Oh, I guess I might mention that you can enter that command into a Terminal window (found under Utilities).

The above one-liner works for me on linux, but there may be some differences in the ping output on a Mac. I don't have a mac handy, for testing.

You can obviously replace the google.com, with a URL of your own choosing (perhaps to the ISP, itself). The unit for sleep is seconds, so it'll ping google once every minute.

My output (using a shorter sleep), looks like this:
Code:
Fri Sep 16 13:12:55 2011, 1 packets transmitted, 1 received, 0% packet loss, time 0ms
Fri Sep 16 13:12:58 2011, 1 packets transmitted, 1 received, 0% packet loss, time 0ms
Fri Sep 16 13:13:01 2011, 1 packets transmitted, 1 received, 0% packet loss, time 0ms
Fri Sep 16 13:13:04 2011, 1 packets transmitted, 1 received, 0% packet loss, time 0ms