Replace Overload For Eazy

Public Function Replace(strText As String, strReplaceWhat As String, replaceWith As Func(Of String)) As String
        Dim i As Integer = strText.IndexOf(strReplaceWhat)

        While i <> -1
            strText = strText.Substring(0, i) & replaceWith() & strText.Substring(i + strReplaceWhat.Length)
            i = strText.IndexOf(strReplaceWhat)
        End While

        Return strText
End Function

Dim s As String = "Hello, my name is #name# and my friend's name is #name#"
s = Replace(s, "#name#", AddressOf RandomName)

'Note: RandomName is your function.