Myrmecia, commonly know as bull ant, is a genus of ants. Almost all of the 90 species are endemic to Australia so it is not surprising to find one around here. They are known for their aggressive behaviour and powerful stings and their venom has the potential to induce anaphylactic shock in allergic sting victims, so they are definitely not insects to get too close to.
This shot was taken with the micro-nikkor 200mm f/4 and the settings were 1/200 at f/22 ISO 100. This any was resting on the wall, so it gave me a lot of time to compose my shot. It was pretty much all dark, so it was lit with a ring flash. I used the modelling light to get focus and slowly work my way to the ant as it is quite a scary subject given its massive jaw. I think it was definitely a scary but rewarding experience, so I think you should try it next time!