This looks like an ambitious ID student Prototyping class project, but in fact it's a finished product that's on the market. The Wanderr, by outdoor equipment company OME Gear, is a five-function object that provides multiple seating configurations and serves as a sort of hand truck:
Here's what it's like to transform it from one thing to another:
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Admittedly it's as unattractive as it is versatile, but you can't argue that the designer left any stones unturned, or missed any usable configurations. If this was student work, I'd give it top marks, and ask them to refine it for next semester's project.