Liz Reynolds, played by Paula Irvine, is a character in the 1988 film Phantasm II.
Liz calls out to Mike Pearson via psychic bond in a nightmare, afraid the Tall Man will take her grandmother after she dies. Later she finds that the Tall Man has indeed converted her grandmother into a dwarf minion. She, Mike, and Reggie band together to stop him. However, Liz is kidnapped by the Tall Man and taken to the mortuary. She escapes and Mike and Reggie rejoin her and kill the Tall Man with acid-laced embalming fluid.
They three leave in a hearse, but the car comes to a halt and Reggie outside the window is badly beaten and passes out. The car drives away with both Liz and Mike thinking it's a nightmare. But the driver reveals himself to be the Tall Man and assures them it's not. The car crashes and explodes with all three inside.