I have a G27 and a G29 and carry them both IWB in Milt Sparks VMII holsters on a heavy double thick gun belt. Still, the G27 has some weight to it (and is identical save calibre to the G26). IWB is the way to go with the G26. I can also draw in the blink of an eye, whereas you'd still be hunched over just grabbing your pants leg.
I don't ankle carry for this reason (and I have a bad back) but I would imagine the G26 to be too heavy for comfort. Also too big, it is like a brick and the same width as a full size. Like having one exercise weight on one leg... Due to the weight, you'll probably need one of those sheep lined holsters to be comfortable, and that will increase the size, so you may need bell bottoms to conceal it.
IF I were to ankle carry, it would be the 340PD I sometimes pocket carry. 5 shot 11-12oz .357 in scandium and titanium. Brutal recoil, but so light I've literally forgot I had it in my pocket before. I'd consider something like this or a smaller auto like that new Sig .380 if I liked .380's, but the 340PD is .357, so if this is the only thing you are going to carry, I'd go that route. Whatever I got, it would need to be considerably lighter, and preferably smaller, than the G26.
But that is me, and that isn't to say some folks out there are doing it quite comfortably.