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1.
After one outplays someone else, they proceed to say smells like broken ankles. Has similar meaning of you just got burned/ owned. Origin of this word had yet to be credited untill now, was first heard in use by a group of guys who heard it from a BAMF looking fellow in a Best Buy. Since then it has been used by this group of people in their daily vocabulary
Example#1
Guy 1: Man you really showed John who was boss today

Guy 2: Yeah, it started smelling like broken ankles on the court

Example #2
Guy 1: *Gets wrecked in videogame/ activity*

Guy 2: Smells like broken ankles Bitch! *violantly screaming in Guy 1's face*
by Ahovne011v2 September 28, 2011
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