Anderson joined the house via the diary room wearing a revealing red dress and paraded behind a frosted glass screen before finally emerging.
Her arrival shocked the six remaining housemates who were in the middle of a task, which involved dressing up as paparazzi and taking pictures of celebrity impersonators.
The housemates gave Anderson a tour of the house and were then all moved to a back room for a "feast fit for a superstar".
Channel 10, which airs 'Big Brother' in Australia, splashed out on Anderson to boost the show's flagging ratings. In a press conference she said that her sum for the appearance was: "Huge, a lot... much more than I am worth. I don't want to say how much but it is a lot."
Anderson, who campaigns for , said that she was unaware that was a major sponsor of the Australian series. She is planning to visit an Australian KFC restaurant after leaving the house to protest against the company's treatment of chickens.
She said: "Every show has a bunch of sponsors and it's not something you look into when you are offered a job. But it's kind of interesting, it's a coincidence."
The former Playboy model also revealed that she would not be taking her clothes off in the house because "There is no mystery here".
She is said to have a no nudity clause in her contract. There is also no news on whether she will be wearing her famous red one-piece swimsuit, which she is famed for wearing while running in slow motion on 'Baywatch'.
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