Here is an explanation to why Shepard is in this picture with a female reaper.
As we know, Shepard is in the galaxy-saving business only to score hot female crewmembers... But after he had slept with Ashley, Tali, Liara, Samara, Kelly, Traynor, Chakwas, asari councilor, Shiala, the consort, Aria, Nyrene, Allers, Al jilani and a ton of other women, he decided to do the impossible!
Score a reaper! So he found a female reaper and used sleek one liners to chat her up. Turns out that reaper was a big fan of Shepard, so they went for coffee. Then on a movie. Shepard took her to dinner and after about a year, Shepard married the reaper and they had reaper babies.
And they lived happily ever after XD (Or until Shepard's reaper children grow up and destroy all life...)
(Don't be offended by this stupidity. Had some time to waste, so I made up a funny story)
For a second I thought the image was of a reaper and Shepard's babies. And my misinterpretation got me thinking. <<SPOILER ALERT>> Imagine if at the ending there was a fourth, pink, option - romance a reaper XD
I love this. I love the reapers and want them as a pet! This picture proves that they will make great pets. Who's gonna destroy all organics? You are! Yes you are! Yes you are my little bundles of destruction
Mother was made of a race of overly protective mothers, known as Momors and when the reapers came and harvest them, that same motherly instinct stayed despite the indoctrination of the reapers. Notice how small she is, Shepard found a shrink gun.