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I've never seen anything like it, so Googled "hammerhead worm" and found this pic
on this link http://kenzomtb.blogspot.com/2009/10/nematode.html which implies it's an earthworm eating exotic parasite that needs to be squished!
Its not a Gippland one. We get similar slimy black ones with a pale brown stripe like that without the hammer-shaped head. At a glance they look like an elongated leach but they're very soft & usually only found out in the open in the morning or where its moist & shady. Don't know what family they belong to but they seem a bit more like a type of slug to me rather than a worm.