It seemed obvious to me that statues generally HAD to have fat ankles to prevent them from falling over, but in any case it was a silly thing meant to highlight the "ankle slenderizing" designs of the latest stockings; a desperate advertising meme and nothing more.
Now, one year later in real time (and almost three years in "New Yorker time," September 1st, 1928), it's the editors making the jibes:
"Across the street from Sherman and his golden horse is a good statue--the lady in the fountain. It is not the best statue we have ever seen (the lady has fat ankles..."I'm AMAZED that people ever noticed the ankles on statues. I'm even MORE amazed that intelligent people thought that statues should physically conform to real human bodies. It truly is no lie that folks WERE obsessed with ankles in the 1920s.