"Romy and Michele's High School Reunion" is rated R primarily for language, sexual content, and some drug use. The film features several instances of strong language, including profanity, as well as scenes that reference sexual situations and innuendos. Additionally, there are moments depicting drug use, which contribute to its R rating. The film's themes and humor are aimed at a mature audience, reflecting the experiences and challenges of adulthood faced by the main characters.

As of now, there is no official sequel titled "Romy and Michele 2." However, there have been discussions and interest in a sequel over the years, but nothing has materialized. The original film, released in 1997, remains a cult classic, and its characters, played by Mira Sorvino and Lisa Kudrow, have continued to be celebrated in pop culture. For any further developments, it's best to keep an eye on news from the film industry.

As of October 2023, "Romy and Michele's High School Reunion" is available for streaming on platforms like Hulu and Amazon Prime Video. You can also rent or purchase it on platforms such as Google Play, YouTube, Vudu, and Apple TV. Availability may vary by region, so it's a good idea to check your local listings on these services.

In the alternate ending of "Romy and Michele's High School Reunion," Romy and Michele's reunion takes a different turn. Instead of inventing a story about their success, they embrace their true selves and enjoy their lives as they are. The alternate conclusion emphasizes the importance of authenticity and friendship over impressing others. This ending diverges from the theatrical release, where they ultimately decide to lie about their accomplishments, leading to a more comedic but less heartfelt resolution.