An interesting article from the Daily Mail describes some recent techniques in treating the "cankles:"
You can have Botox injections in the balls of your feet so you can wear high-heels for longer without pain; operations to shorten toes so they look dainty in Louboutins - and now you can have France's hottest export: cankle removal. While most women are fortunate to have a narrowing where the lower calf and ankle meet, giving a shapely contour, some have little or no discernible difference in shape - which is known as cankles. Age and status is not a factor, and nor is whether you have long or short legs, are slim or overweight. Cankles are inherited, just as you may have inherited your mother's apple or pear body shape.
The article goes on to describe liposuction treatments for cankles, with and without laser-assistance. Traditionally this area has been a tough one to treat because of the risk of contour deformities and fluid collections. I have treated one set of cankles in five years, but was happy with the result.
It does appear that there is hope for all those who suffer from a case of the cankles!