Malleolus

n. bony projections on either side of the ankle (Anatomy)

Malleolus is the name for the bony prominence on each side of the ankle. The one to the outside of the leg is the lateral malleolus, and the one to the inside is the medial malleolus.
See more at Wikipedia.org...

Malleolus /mal·le·o·lus/ pl. malle´oli [L.] a rounded process, such as the protuberance on either side of the ankle joint at the lower end of the [more]Malleolus - Community and Resources

(n.)
A projection at the distal end of each bone of the leg at the ankle joint. The malleolus of the tibia is the internal projection, that of the fibula the external.
  

(n.)
A layer, a shoot partly buried in the ground, and there cut halfway through.
  

Bony prominence on either side of the ankle.