"Cankles" getting press in the Wall Street Journal
It seems that now that all other areas of the body have been firmed and sculpted, the ankles are getting their due. The article states that Gold's Gym declared July to be "Cankles Awareness Month" with workouts devoted to the ankle. Even with their Cankles-busting workout, though, it may not show much improvement.
For those who just don't want to give up on those perfect-looking ankles, plastic surgeons are advertising liposuction for ankles to remove the fatty deposits. The concern is that there can be trauma to the surrounding vessels and tendons that squeeze through the ankle to enter the foot. There are also people who are finding temporary relief by applying Preparation H hemorrhoid cream to their ankles.
Your ankles are meant to be functional. In many cases the heftier ankles are due to the formation of the achilles tendon lower than usual, so what you see is the muscle belly. In those cases, toning your ankles may even make them seem larger! Before you do anything to affect your ankles, or any other part of your body, be sure to discuss it with your physician. Also take a long look objectively and see if it is really something that you need to do. In most cases, it's just not worth it.