Search and replace multiple values with multiple/different values in PHP5?

Question

Is there an inbuilt PHP function to replace multiple values inside a string with an array that dictates exactly what is replaced with what?

For example:

Answer 1

IN CASE some one is looking for replacing same strings with different values ( per occurence ).. Example, to replace all ## by numbers++ OR values from an array-

$split_at = '##';
$string = "AA ##  BB ##  CC ##  DD";
$new_string = '';
// echo $string;
$replace_num = 1;
$replace_arr = ['first' , 'second' , 'third'];
$split_at_cnt = substr_count($string, $split_at);
for ($split=0; $split <= $split_at_cnt; $split++)
{
    $new_string .= str_replace('##', ($replace_num++)." : ".$replace_arr[$split], substr( $string, 0, strpos($string, $split_at)+strlen($split_at)));
    $string = substr($string, strpos($string, $split_at)+strlen($split_at));
}

echo $new_string;