Procedure:
1) Create 5 copies of project.
2) On each project remove unnecessary resources, activities, manifests declarations ,and yes it must to delete on some place java code that links other projects resources, and also edit java code to get well compilation if there are 5 wallPapers, on some place is the central point of the wallpapers so there we must to cook code or may be delete this Activity and also set each wallPaper Activity as the main Activity on Manifest .
3) Rename package Name and App name of each project and set a new icon for each project.
4) compile and run each project
5) Test each project on at least 4 devices.
6) Sign each projects ???
7) Shrink ???
8) Obsfuscate ???
9) any else ???
10) What is the delivery time for this ?
11) Android Studio or Eclipse ?
Please feel free to contact me for more details by chat for any more info or any suggestion to me.
Tx.