It seems that LG’s fascination with food did not stop with the LG Chocolate, because the Korean company has decided to call its latest touchscreen cell phone the LG Cookie. Also known as the LG KP500, the cute little handset is actually meant to be an entry-level offering, sending the touchscreen thing into more affordable realms.

Polly doesn’t want a cracker. Polly wants a Cookie! Among the features on this slim touch phone are quad-band GSM, GPRS/EDGE, 3-inch touchscreen display, 3 megapixel camera, accelerometer, Bluetooth 2.1, and an FM radio. If you didn’t know any better, you’d probably place the LG Cookie in the mid-range rather than at entry-level. It’s too bad that the 3MP camera can only do QVGA video recording at 12fps. Then again, that beats the native functionality of the iPhone and T-Mobile G1.

The best part, of course, is the price. The LG KP500 Cookie will retail for just $228 without subsidies. If AT&T or T-Mobile pick this up, that could mean that you could play with Cookie for free (or close to free) with a contract.