Picola is a rural village and district in northern Victoria, 11 km north-west of Nathalia. Its name is thought to derive from an Aboriginal word either describing an Aboriginal sub-group or meaning whirling or rushing water.

During the early period of farm-selection settlement, Picola vied with Nathalia because of Picola's proximity to the Echuca to Tocumwal coach route, its general store, Union church and primary school (1879). Nathalia's position on the Broken Creek, compared with the absence of a substantial watercourse at Picola, probably caused Picola to fall behind.

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