It's Japanese only- but on my site I have translations which I will post along with the link to the clip. Kikyo seems to sacrifice her life in this one to destroy Naraku but you never know- She is pretty amazing and this could be a twist.
The InuYasha Alternate Ending Clip
Translation:
Naraku:Impossible,I cant belive he actually- *Falls.*
Inuyasha: Pretty good for a half-demon,huh!?..Kagome are you okay?
Kagome:*Nods.*
Kikyo:*Comes in limping and using her bow to hold herself up.*
Kikyo: This isnt over yet.
Inuyasha: what?
Kagome:!?
Naraku:*Demonic aura around him begins to grow as he would let out an evil laugh.*
Inuyasha: Your still moving/up?
Naraku: Inuyasha!! not yet!, as long as I have the shikon no tama you willl never defeat me!
Naraku: *Jumps out through a big hole in the castle, jumping from rooftop to rooftop.*
Inuyasha: damnit
Naraku: *Held up the shikon no tama* Shikon No Tama,give me unlimited power!
~Arrow is shot at the Jewel,splitting it~
Naraku: uh!?
Inuyasha: The Shikon no tama!!
~Shikon shards spread across the regions~
Kaede: ?!
Naraku: *Fell as Kikyo`s soul collectors would wrap around him,binding him still.*
Naraku: wha?! these are....Kikyo!?
Inuyasha: Kikyo..what do you think your doing?
Kagome: Did she plan to break the Jewel so he wouldnt get his hands on it?
Kagome: No way...huh!?
Kikyo: *Jumped off the castle.*
Inuyasha: Kikyo!!!
Kikyo: *Landed behind naraku,grabbing him.*
Naraku: Kikyo...what are you...?
Kikyo: Now that the shikon no tama is broken,i`ll make sure you`ll never get your hands on them.
(Kikyo calls out some sort of seal which i cant figure out the name, it sounds like" Fuuin Seal" or "Fugin Seal")
Kikyo: *Summons a fire seal,surrounding both herself and Naraku within the fire, engulfing them both.*
Naraku: UUHWAAAAAAAH!!!
~The huge fire would spread into the sky,as it would light up the night~
Inuyasha: *Putting his arm over kagome as the wind from the blast would gust out strong winds.*
Inuyasha: Kikyo!! (you can see that Naraku vanishes in the fire before Kikyo)
*The fire would rage on until morning came,leaving nothing but ashes.*
Inuyasha & Kagome: *Both looking at the small crator left by the fire,as it was filled with ashes.*
Kaqome: *Looked up at Inuyasha.*...Inuyasha
Inuyasha:((Inuyasha says sometyhing i cant really make out))
Inuyasha: Kikyo sacraficed herself in order to kill naraku, and she also made sure that he wouldnt get the jewel. Now eveyone will be able to rest easy knowing hes gone.
Kagome: yeah! *Hugged Inuyasha's arm.*
Inuyasha: eh!? kagome what are you doing?..let go!
Kagome:(Kagome says something i cant make out but this is what i think she said: Im just kidding, now we can start our search all over again!, hmm? *smiling.*