Apple’s newest Apple Store has been dubbed the PopUp Apple Store, but it’s not so new that people aren’t lining up at the Austin location to get Apple’s new iPad 2. Tim Street, Internet video pioneer and the creator of French Maid TV, has posted a couple of photographs to Twitter showing the lines, and Apple employees needing to put up crowd barricades to manage the lines.

The PopUp Apple Store is a temporary store Apple has opened in Austin, TX for the annual SxSW music and technology show. It’s located in downtown Austin, on the corner of Congress Ave. and 6th Street, where many of the concerts and panels for the event take place.

The store’s sole purpose is to serve the tens of thousands of people that flock to the festival, and Apple is capitalizing on those crowds by offering the new iPad 2, which launches today.

Mr. Street noted in another tweet that Apple isn’t the only company trying to capitalize on the launch event, as the Pepsi Max Marketing Street Team showed up to hand out free Pepsi drinks and T-Shirts to those waiting in line.

Apple’s secret formula: Open an Apple Store, rake in the bucks.

Source: Tim Street photo posted to Twitter

Bringing in the barricades

Source: Tim Street photo posted to Twitter