The Hustler founder and freedom of speech advocate has produced an X-rated movie using an adult-film actress who resembles the Republican vice presidential candidate.

Flynt's producers posted an anonymous help-wanted ad on Craigslist in L.A. just days after the Republican convention. "Looking for a Sarah Palin look-alike," read the ad, "for an adult film to be shot in the next 10 days." The actress would be paid...