The organiser of Saturday's protest, Sharlie Earl (25), said she had long been considering making some sort of protest at the road's extended closure, and was finally encouraged to act by family and friends.
About 204 signatures were collected over a three-hour period.
Miss Earl said it was a little disappointing more people had not turned up, but she was still pleased with the outcome.
The scenic coastal road beside St Kilda Beach has been largely closed to motorists since 2006 and is expected to remain so until sometime in the 2011-12 financial year after redevelopment work is completed.
Further consultation will be held, with a hearing starting on May 4, at which Miss Earl will present a petition signed by protesters.