We propose a method for real-time photorealistic stereo rendering of the natural phenomenon of fire. Applications include the use of virtual reality in fire fighting, military training, and entertainment. Rendering fire in real-time presents a challenge because of the transparency and non-static fluid-like behavior of fire. It is well known that, in general, methods that are effective for monoscopic rendering are not necessarily easily extended to stereo rendering because monoscopic methods often do not provide the depth information necessary to produce the parallax required for binocular disparity in stereoscopic rendering. We investigate the existing techniques used for monoscopic rendering of fire and discuss their suitability for extension to real-time stereo rendering. Methods include the use of precomputed textures, dynamic generation of textures, and rendering models resulting from the approximation of solutions of fluid dynamics equations through the use of ray-tracing algorithms. We have found that in order to attain real-time frame rates, our method based on billboarding is effective. Slicing is used to simulate depth. Texture mapping or 2D images are mapped onto polygons and alpha blending is used to treat transparency. We can use video recordings or pre-rendered high-quality images of fire as textures to attain photorealistic stereo.