Centuries ago, a prophecy was revealed to that era's Yu Ti in the form of a very realistic dream. This prophetic dream foretold of a young woman with hair as red as blood who would become the next Iron Fist and save the world from the fury of the cosmic entity called The Phoenix Force.
Fongji was created by Brian Michael Bendis and Mike Deodato Jr. and first appeared in New Avengers Volume 2 issue 25 (2012).
Major Story Arcs
The Dream of The Girl with Hair Crimson
As it turned out the girl, whose name was Fongji, was the daughter of a woman who had found male companionship during the last pilgrimage to Earth prior to her return to K'un-Lun.
After studying the mute, red-haired girl, Yu Ti announced that he would be taking her with him and start training her in the ways of the Iron Fist with help from Lei Kung. Not much else is known about Fongji as all of the previous guardians of K'un-Lun decided to keep her existence and The Phoenix Force's connection to the legacy of the Iron Fist a secret until the time of it's next return.