Myself and another developer are developing an API accessed by other code. As we change the behaviours of the API to better suit our needs, we release additional versions of
A more standard way would be to only have one api.php file, and use branches and tags to mark new versions.
As for serving the files : if you want to offer several versions of your api to your users, use some deployment process to checkout and build specific versions of your api, rename and move as you wish, and set public access to this - not to your dev tree.