The current research explores the role of lexical representations and processing in the recognition of phonological variants. Two alternative approaches for variant recognition are considered: a representational approach that posits frequency-graded lexical representations for variant forms and inferential processes that mediate between the spoken variant and the lexical representation. In a lexical decision task (Experiment 1) and in a phoneme identification task (Experiment 2) using real words, low-frequency variants, but not high-frequency variants, show improved recognition rates following additional experience with the variants. This knowledge generalized to novel variant forms. Experiment 3 replicated these results using an artificial lexicon and showed that recognition of low-frequency variants was influenced by similarity to a high-frequency variant form. Similarity to a high-frequency variant alone, however, was insufficient to explain recognition of the infrequent variants (Experiments 4 and 5). The results support a hybrid account of variant recognition that relies on both multiple frequency-graded representations and inference processes.