Here's a bunch that I've seen and remember in detail as the best bowling performances I've watched, along with a few that I've merely read about. Obviously, most of them involve Australia on one side or the other, as I've seen more of those games, and other people will most likely supply better examples for or against their own sides than I could.
Jeff Thomson, 5/62 vs West Indies, MCG 1975
Michael Holding, 8/92 vs England, The Oval 1976
Dennis Lillee, 6/26 vs England, MCG 1977
Sarfraz Nawaz, 9/86 vs Australia, MCG 1979
Bob Willis, 8/43 vs Australia, Headingley 1981
Dennis Lillee, 7/83 vs West Indies, MCG 1981
Richard Hadlee, 9/52 vs Australia, GABBA 1985
Shane Warne, 7/52 vs West Indies, MCG 1992
Curtley Ambrose, 7/25 vs Australia, WACA 1993
Shane Warne, 7/23 vs Pakistan, GABBA 1994
Shane Warne, 7/56 vs South Africa, SCG 1994
Petrus De Villiers, 6/43 vs Australia, SCG 1994
Jason Gillespie, 7/37, Headingley 1997
Allan Donald, 5/36 vs Australia, Supersport Park 1997
Chaminda Vaas, 3/43 vs Australia, Asgiriya Stadium 1999
Anil Kumble, 10/74 vs Pakistan, Feroz Shah Kotla 1999
Glenn McGrath, 6/17 vs West Indies, GABBA 2000
Harbhajan Singh, 8/84 vs Australia, Chidambaram Stadium 2001
Anil Kumble, 8/141 vs Australia, SCG 2004
Steve Harmison, 7/12 vs West Indies, Sabina Park 2004
Michael Clarke, 6/9 vs India, Mumbai 2004
Glenn McGrath, 8/24 vs Pakistan, WACA 2004
Shane Warne, 5/90 vs Sri Lanka, Asgiriya Stadium 2004
Glenn McGrath, 5/53 vs England, Lords 2005
Simon Jones, 6/53 vs Australia, Old Trafford 2005
Shane Warne, 6/86 vs South Africa, Kingsmead 2006
I'd say the only ones that need explaination are Vaas and Michael Clarke. I picked Clarke because I think it's interesting to have examples of poor bowlers who had one great day in there. Now that I think of it, Bob Massie would be a good inclusion, so I'd throw his debut performance in there too. Vaas is only three wickets, but they were hugely significant as they set the scene for a Sri Lankan series win against Australia, along with the injuries to Gillespie and Waugh. Vaas and Zoysa destroyed Australia on that first day.
edit: Take note, I'm not suggesting that all of these are automatic inclusions in the final 128 or whatever. It's just meant to be a list of the best bowling performances in tests involving Australia in the last 10-15 years or so, along with a few other famous ones.