In this post I will explain how the ultimate makeover on The Sims Freeplay works and whether I think it is worth using. When you click on your sim who is not doing anything you will see the purple ultimate makeover option:
The ultimate makeover allows you to change the DNA of your sim, the DNA is the name, gender and skin tone so it basically takes you back into the create a sim menu.
How much does it cost? It will cost you 12LP

Don’t have 12LP for the makeover? Check out my post here on making LP quickly
Once you select the option and click you are sure you want to spend 12LP on this it will take you back to the create a sim menu:

Can you cancel it once you enter the ultimate makeover? Yes, click the back button at the top and it will refund you your 12LP:

This might be quite useful if you accidentally gave your sim the wrong name to begin with but sims age so quickly once the Life Dreams and Legacies Quest is complete you could just recreate the sim again once they pass away but with the correct details this time and save yourself those 12LP!
This video shows how the ultimate makeover works:
