[PHP] foreach loop to set variables

I am passing an array to a class which I want to take the array data and
create some variables from the array's keys and values.

So I want to create (in this case 21) new variables that I want to create in
the foreach but with no success.

foreach ($formdata as $key => $value) {
	echo "$key = $value";
}

This echo's all the data how I would expect.  But taking the echo out to
have:

foreach ($formdata as $key => $value) {
	$key = $value;
}

But this doesn't work. The variables aren't set.

I was thinking that I could set up the variables outside of the function by
using public $variablename for all the different variables then set the
variable value using:

foreach ($formdata as $key => $value) {
	$this->key = $value;
}

But that didn't work either.
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