The dated version is
Michelle. And I've known (and worse - taught!) so many of them that it makes me fall asleep standing up, in spite of the Beatles' best endeavours.
Michèle, even without the accent, is a different matter. Or perhaps it's just that I've got two very good friends who are one-L Micheles, one of them French. It seems more elegant and energetic as well as a whole lot less of a cliche.
I had a boyfriend once with a
Michelle sister who went by
Shelley. Didn't like her much. But all the other Shelleys I've known have been "after the poet".