How to deploy multiple version of an application in production for microservice based application

Is it possible to have multiple versions of service(s) deployed in production at the same time. From my assumption, this should be pretty common pattern for microservice/api based projects or mobile projects. I want to know how do you do it and what are common pattern in industry for this kind of problems. It would be helpful if your answers around AWS environment or Kubernetes environment.
Thanks in Advance.