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This question was answered by @jesin:
Hi @newbie,
You would have to manually compile each PHP version and configure Nginx to use a different version for each subdomain. Try this tutorial http://www.sitepoint.com/run-multiple-versions-php-one-server/
Or you could use ServerPilot.io which is a hosting control panel with multiple PHP versions.
@ryanpq ServerPilot saids “Run websites with PHP 5.4, 5.5, 5.6, 7.0, and 7.1 on the same server. Easily change PHP versions at any time” Does it support to install other versions? http://phpio.net