Billabong has its origins in the handlettered 40’s and 50’s script headings that seem to have endured especially in signage when style doesn’t matter too much. Unlike today’s scripts Billabong is tightly spaced and Opentype font features allow for a myriad of ligatures to improve fit and evenness of color. Users can select their choice of strokes, ornaments and ending flourishes for added emphasis and style.
Oh, and yes – it is the font used on the Instagram logo. Smart choice!
A comprehensive User guide for Billabong is available here.