The phrase "reigning beauty" typically refers to someone who is currently considered the most beautiful person in a particular setting or context. If you are looking for synonyms for this phrase, some options could include "current beauty queen," "current belle of the ball," "current goddess," or "current epitome of beauty." Other possible options could include "current icon of grace and elegance," "current model of perfection," or "current paragon of physical attractiveness." Ultimately, the exact synonym you choose will depend on the specific context in which you are using the phrase and the tone or vibe you are trying to create.