It is no longer a common name in the US. It wasn't always used to describe a male body part (though it has in modern times). It is also the nickname for "Richard". So there are Richard's that prefer to be called "Dick". I'd imagine the people choosing it today (if any are) would be that it is a family name.

That would be rare; the child would usually be named Richard and nicknamed Dick.

It's not clear to me why Dick is the standard nickname for Richard.