The Benders buses (local buses to suburbs in Geelong) and McHarrys (which go down to Torquay and Anglesea, etc) now operate on the myki system. It is an electronic card so you swipe on when you enter the bus and swipe off when you leave and it calculates the lowest fare for your trip (which is usually around $1.80 for an adult). You can top your card up online or with the bus driver.
To purchase a myki card, there is an office at 129 Ryrie St (about 20m from the T&G building across the lights), or you can get them online.
If you don't have one of these cards, or are only passing by and do not want to buy one. Then just get on the bus and say 'adult, please' or 'concession, please' (must be under 15 or have valid Australian student card). An adult ticket for 2hrs (and the remainder of the hour for which you bought the ticket) will cost you $2, a concession will cost you $1.
Bus timetables are available from the bus driver for about 50 cents.