I think SerializerMethodField is what you're looking for:
class FooSerializer(serializers.ModelSerializer):
my_field = serializers.SerializerMethodField('is_named_bar')
def is_named_bar(self, foo):
return foo.name == "bar"
class Meta:
model = Foo
fields = ('id', 'name', 'my_field')
http://www.django-rest-framework.org/api-guide/fields/#serializermethodfield