What is Peroneal Tendon Subluxation? The Peroneal Tendons connect the Peroneal Muscles in your lower leg to bones in your ankle and foot. The Peroneal Tendons are contained in a tunnel that is made of fibrous tissue known as the Peroneal Retinaculum. The purpose of the Peroneal Retinaculum is to help keep the Peroneal Tendons in place. ...