Drawstring ankle pants can refer to pants that have legs that stop a little higher at the ankles than regular pants, or it can refer to pants that have an adjustable drawstring at the ankle, allowing you to change the height of the pant leg as you desire. Either way, you should be able to find a pair that you will like, considering the many colors and styles that both these types of pants come in.
Three examples – I like the first two, they’re very stylish, but the Watershed pair on the right is obviously more functional than fashionable (IMHO):
Drawstring ankle pants pictured:
Left: Armani Exchange Womens Easy Drawstring Pant
Middle: Arden B. Women’s Banded Drawstring Soft Pant
Right: WaterShed 925042-TGR-2XL StormShield Double Knee Waterproof GORE-TEX Waist Pant with Drawstring and Ankle Snaps, 2XL, Forest Green