Recently, transformable Unmanned Aerial Vehicles (UAVs) have become a subject of great interest in the field of flying systems, due to their maneuverability, agility and morphological capacities. They can be used for specific missions and in more congested spaces. Moreover, this novel class of UAVs is considered as a viable solution for providing flying robots with specific and versatile functionalities. In this paper, we propose (i) a new design of a transformable quadrotor with (ii) generic modeling and (iii) adaptive control strategy. The proposed UAV is able to change its flight configuration by rotating its four arms independently around a central body, thanks to its adaptive geometry. To simplify and lighten the prototype, a simple mechanism with a light mechanical structure is proposed. Since the Center of Gravity (CoG) of the UAV moves according to the desired morphology of the system, a variation of the inertia and the allocation matrix occurs instantly. These dynamics parameters play an important role in the system control and its stability, representing a key difference compared with the classic quadrotor. Thus, a new generic model is developed, taking into account all these variations together with aerodynamic effects. To validate this model and ensure the stability of the designed UAV, an adaptive backstepping control strategy based on the change in the flight configuration is applied. MATLAB simulations are provided to evaluate and illustrate the performance and efficiency of the proposed controller. Finally, some experimental tests are presented.