Border, Jones' wife Jane, and daughters took a long walk from the boundary of the MCG to the centre, carrying his baggy green, sunglasses and Kookaburra bat and laid the items to rest on the stumps at the Great Southern Stand end of the ground.
A huge commemoration will be held at tea break for Jones while a bay of seats will remain covered through the second Test between India and Australia with a banner paying tribute to the cricketer.
Earlier, the Indian and Australian players wore black armbands and observed a minute's silence in recognition of Jones before the start of the first ODI.
The former Australia batsman, who had represented his country in 52 Tests and 164 ODIs, was in Mumbai as part of IPL official broadcaster's commentary panel when he died on September 24 following a cardiac arrest.
Kings skipper Imad Wasim and team member Babar Azam also dedicated the PSL title to Jones and said it was the best gift they could give to him as a tribute.
Dean Jones was earlier the coach of Karachi Kings and the players of both, Kings and Multan Sultans paid tribute to the late Australian cricketer.
Wife Jane, daughters Isabella and Phoebe and Jones' siblings were among a group of 10 to attend the small ceremony at a funeral parlour held over the weekend because of Covid-19 restrictions.
Jones, who played 52 Tests and 164 ODIs for Australia, is survived by his wife Jane and two daughters - Phoebe and Isabella.
It is also reported that fellow Aussie great and commentator Brett Lee attempted to save Dean's life with CPR.
Brett Lee shared a video with Dean Jones as he shared a video with the Australian cricket legend, who passed away earlier this week.
Delhi Capitals players also wore black armbands in memory of Dean Jones during the CSK vs DC tie played on Friday in Dubai.
Sachin Tendulkar, who fondly remembers his on-field battles during the Australia tour of 1991-92, said he would be glued to TV set as a young cricketer when Dean Jones batted.
Kapil Dev first played against Dean Jones during the 1985 World Championship of Cricket in Australia.
The former Australian cricketer Dean Jones died of cardiac arrest in Mumbai on Thursday at the age of 59.
IPL GC confirms the armband, worn by King XI Punjab and Royal Challengers Bangalore players, are a mark of respect to Dean Jones, who died of cardiac arrest in Mumbai.
Steve Smith, other present and former Aussie stars mourn his death, Jason Gillespie and Darren Lehmann change Twitter profile pics to that of Jones.
The RCB skipper and other prominent names in the cricket world took to Twitter to express their condolences on the untimely death of the Oz cricket legend, who was serving as commentator for IPL 2020.
The saddening news shocked the whole world as Jones was in India for the broadcasting job of the ongoing Indian Premier League season.
The 59-year-old former Australian cricketer has passed away in Mumbai of a cardiac arrest. He was part of the Star Sports commentary team for IPL 2020.
With Dhoni now having announced his retirement, Jones feels Pant and Rahul can have an equal chance at sealing the spot.
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