The comedy video appears to show Beckham in his briefs eating chips and ends with the strapline "forget London Fashion Week, it's National Chip Week’.
The creative plays on the fact that this week (20-26 February) is both London Fashion Week and National Chip Week.
The ad might not last long online as it reproduces a number of shots from the original Beckham ad, something Beckham and H&M may not take too kindly to.
Golden Union is encouraging viewers of the video to tweet #BeckhamForGU as a parody of the #BeckhamForHM hashtag used in the H&M campaign.
Separately, family-owned Albert Bartlett is jumping on the back of National Chip Week with a press campaign for its russet potatoes, which it claims are perfect for potato wedges, jackets and fries.
The company is running a print campaign in the Daily Mirror for its American-style russet potatoes, which are available at Booths, Lidl and Ocado.
Creative runs with the strapline "pick up a bag this week and you'll be able to celebrate Chip week in style – American style that is".
Follow Matthew Chapman at @mattchapmanUK