Ankle sprains tend to affect the anterior talofibular ligament and the calcaneofiibular ligament. They can also damage the posterior talofibular ligatment and the tibiofibular ligament. Basically, there are lots of ways to 'traditionally' sprain an ankle on the outer side (pinky toe side) of the foot.
You can also sprain the ligaments on the inside of the ankle too, but this is much more difficult as these are incredibly strong and the structure of the ankle is protective.
There are a few considerations that are important when it comes to anke sprains, firstly, making sure that the injury is a sprain, and not a fracture.
Secondly, ensuring that you are rehabilitated so that you do not develop any long term issues or ankle instability in the future.
Statistically, about 70% of people who sprain their ankle still have problems with instability or pain at 7 years, so the proper management of ankle sprains is essential.
An ankle sprain is typically the result of rolling over the outer edge of the ankle and stretching or breaking the ligament(s) that stop the ankle bone moving around too much.