The most obvious outcome is Russia wins and Ukraine or what's left of it becomes a Russian slave state.
That outcome I think is already inviable. There is no way Rusia could win now. The invasion is widely off the plan, the ukrainian resistance is fiercer than expected and has united (mostly) the people around its president and the independence idea.
Hardly anyone un Ukrainia or any where in the world could think that the demilitarization of Ukrainia is a good idea.
It has pushed Finland and Sweden nearer to NATO, united NATO and reinforced its purpose and launched a rearmament plan across it, specially in Germany.
It had pushed the EU to cut the energy link with Rusia at light speed. Of course it won't be cheap for the EU but do Rusia have the capability to switch the customers? It could sell gas&oil at a discount to different countries but do Rusia have the infraestructure to do that? Or the money to build it?
China could rise to lend a hand but it won't be free and could turn Rusia to a vassal state of China as someone point out (sorry, don't remember who).
The myth of the russian army might lies shattered in an ukrainian ditch and can't be reborn (at least for a long time) so any new menace of the use of force against any country would be unbelivable.
Rusia would we a pariah state as long as uncle Vlad is in power.
We could only wait that Putin won't stay in power much longer and that when the end comes the West don't act like in the end of the Cold War but like at the end of WW2, with some kind of Marshall Plan to rebuild Rusia and bring it out of the darkness once and for all.
PS: Edited for some typos.