look up any word, like smh:
 
1.
A sophisticated game best played after a couple of drinks.
To stand in the bar with your pants drawn down to the ankles.
Who dares wins.
The winner of pankles is the player who has the most stamina and courage.
by Lord Archers nephew December 17, 2010
 
2.
Bright pink sunburnt ankles, usually caused by a New Zealand summer, minimal ozone layer covering, irregular sunscreen application and kayaking.
This chick had bright pink pankles after being in the sun too long
by pankle person January 03, 2008