All those alternative versions of Ray.

In this different version of DoFPast, Rachel and Franklin survive long enough together to get married, have a son, and raise him. Not much is know about that timeline, though it seems the divergent point is that they were never captured by the Sentinels originally or they survived the breakout from the internment camp. From Fantastic Five #4, Hyperstorm revels that he killed his father. What's curious about this timeline is that Rachel wears the costume of the Phoenix in it. And her son's costume has a phoenix-motif on it. Was this Rachel also a host of the Phoenix Force?

Book Title: Time's Arrow: The Future
Authors: Tom DeFalco and Eluki Bes Shahar

The divergent point in this version of DoFPast is that the group of X-Men held at the South Bronx Internment Camp never attempted to escape from it. Instead Rachel and Franklin had a daughter, Dream. When their daughter was about a year old something called the 'Last War' occured, despite of Franklin and Rachel's efforts to stop it. The effects of that war were devestating. Already most of the mutants in America were captured or killed, and scientific research suspended. Now the Sentinels expanded their protocols to the rest of the world. After fifteen years of battle where villians and heroes fought side-by-side, the Sentinels triumphed. Once more their programming changed. All had to die now: humans, mutants, everyone, everything.

Issue: What If...? Vol. 2, No. 6
Title: What If... The X-Men had lost Inferno?

In this timeline most of the X-Men were killed when the demon S'ym got control of the Soulsword, not Shadowcat. He allied himself with the Goblin Queen and opens a dimensional rift with baby Nathan's death. Most of the populace is transformed into demons. Here it is Doctor Strange who releases Rachel from her enchantment. Between the two who them they summon the Phoenix Force and convince it to cleanse the planet of the evil that has overtaken it before the Living Tribunal arrives to destroy Earth. The Phoenix Force restores the planet to a primal, virgin state before leaving completely. Flash forward nine months later where Rachel and Doctor Strange deliver Alicia Masters-Storm's son in a cave which was once New York City.

Issue: What If...? Vol. 2, No. 12
Title: What If... The X-Men had stayed in Asgard?

In this reality some of the New Mutants and X-Men elected to stay in Asgard than return home. Since the number of those that wanted to stay and go were nearly equal, Loki sent back to earth those who wanted to leave while the others stayed behind. With the New Mutants no more and Cyclops remaining with what was left of the X-Men, those who would have formed X-Factor instead joined the team. In the ranks of the new X-men were: Cyclops, Iceman, Beast, Karma, Wolverine, Angel, Marvel Girl, Shadowcat, Magma, Colossus, and Phoenix II.

Issues: What If...? Vol. 2, No. 32 & 33
Titles: What If... Phoenix had not died? & What If... Phoenix rose again?

This timeline diverged with the mainstream when the Phoenix Entity was captured by the Shi'ar and was given a psychic lobotomy that stripped her of her abilities. She lived her life thinking that she was really Jean Grey, going on to marry Scott Summers and having their daughter Rachel. It wasn't until Rachel was nine months old that she learned differently. The Shadow King had sent Mastermind to get Rachel, and when 'Jean' tried to stop him he killed her. But she didn't really die. Instead her full power and memories returned to her. When she went to rescue Rachel she found out that the Shadow King had her aged to adulthood so she could be his host. Phoenix defeated him in battle and de-aged her daughter back to her real age the same way she changed back Sara Grey. Go forward in time where Rachel is about five or six and exhibiting psion powers. Sentinels are now hunting those with super powers, and Phoenix end it's threat by destroying all Sentinels. She then forsakes her mortal form to return to the stars where she can do no harm, leaving her husband and child behind.
What I find really interesting about is this story is what it hints that could have happened in the mainstream timeline. When Phoenix goes off the reflect what she's done in New Mexico near Angel's home, she realizes that Rachel was concieved there. Is it possible that when the Phoenix Entity 'killed' herself on the moon, that she was pregnant with Rachel at the time? And when Rachel is inhabited by the Shadow King there are hound scars on her face. Did the Shadow King have a hand in the creation of Hounds?

Issues: What If...? Vol. 2, No. 77
Title: What If... Legion had killed Magneto?

In this timeline it is Magneto who is killed, instead of Xavier. Thereby ensuring the Age of Apocalypse doesn't happen. Instead Xaiver accomplishes his vision of harmony, but too well. The X-Men are regarded as celebrities, instead of heroes or villians. Scott and Jean have retired from the team to raise their two children, Nathan and Rachel. When Apocalypse strikes the X-Men are unprepared and are slaughtered. Jean eventually destroys Washington DC trying to neutralize the threat Apocalypse poses. We last see the Summers family running Xaiver's Institute in a world just learning to fear and hate mutants.

There are other What If...? stories that have Rachel in them, but it'll have to wait until I can dig them out of the ever expanding tesseract that is my room.