Reynolds was born in Mandeville, Louisiana. In 2002, she was one of the finalists in the search to replace Brooke Burke as the host of Wild On!. She was previously married to former LSU quarterback Josh Booty. The two met at LSU when she was a member of the LSU track team.
While driving a prize car onto the set for a pricing game during an episode of "The Price is Right," she crashed the bumper of the car onto Stage Door 3. Although Bob Barker mentioned that she was the second model to have done that, Janice Pennington's name was never mentioned. During the 2011 April Fool's Day episode, the event was recreated as a joke when Reynolds once again crashed a Ford Mustang into a breakaway version of Stage Door 3. After the crash, she could be heard saying "Oh no, not again!"
On the May 3, 2009 episode of The Price Is Right, host Drew Carey announced that Reynolds was engaged to a player from the Cleveland Indians, David Dellucci. On March 30, 2010, Carey announced that the couple had married. On the April 12, 2010, episode ("Ultimate Wedding Shower 2010"), the couple modeled wedding formalwear (a tuxedo for Dellucci, a wedding gown for Reynolds) as an Item up for Bids. Reynolds and Dellucci are expecting their first child in February 2013.