A Ukrainian man has officially changed his name to iPhone 7 after an electronics store offered the latest Apple product to the first five people to do so.

The 20-year old iPhone Sim (Seven) got the coveted prize on Friday (local time).

He said he would consider changing it back to his original name, Olexander Turin, when he had children.

The price of the phone starts at $US850 in Ukraine, while the cost of a name change is the equivalent of $US2.

Mr Sim's friends and family were shocked at first, but eventually supported the idea.

His sister, Tetyana Panina, said: "It was difficult to accept that and hard to believe it's true".

"Each person in this world is looking for a way to express himself. Why not to do that in this way?" she said.

Take a look at some other bizarre things people have done to get free stuff.

42 Swedes change their name to Klaus-Heidi

In 2013, the largest German airline, Lufthansa, said 42 Swedes had legally changed their names to Klaus-Heidi to participate in a competition which offered a flight to Berlin and a one-year free apartment rental to the winner.

"I was incredibly happy when they said I had won," Michael Klaus-Heidi Andersson told reporters, adding at the time he had no intention of changing his name back.

"Even if I hadn't won, I would have kept the name. It's a great ice-breaker."

Departure Roulette

A Dutch brewing company set up a board at JFK's Terminal 8 and dared travellers to play "Departure Roulette". ( Supplied: Heineken )

In the same year, Dutch brewing company Heineken set up a board at JFK's Terminal 8 and dared travellers to play "Departure Roulette" — where passengers agreed to drop existing travel plans and change their destination to a more exotic location with the press of a button.

Once the location was selected, they had to immediately board a flight to the new place.

Tattoo Reebok on your body

In 2014, sportswear brand Reebok offered a year-long sponsorship (worth approximately $US5,800) in exchange for participants getting its logo permanently tattooed on their bodies.

A total of eight people got tattooed with the winner covering her entire thigh with the brand's logo.

ABC/AP