The anatomy of the fibular collateral ligament-biceps femoris bursa is described. The bursa is located lateral to the distal quarter of the fibular collateral ligament and forms an inverted "J" shape around the anterior and anteromedial portions of the ligament. Its most distal margin is just proximal to the fibular head where the fibular collateral ligament inserts, and its more proximal aspect is at the superior edge of the anterior arm of the long head of the biceps femoris muscle. We found this structure in all 50 knees dissected; there was a constant anatomic location of the fibular collateral ligament-biceps femoris bursa in all specimens. Measurement of the anatomic dimensions of the bursa revealed a mean width of 8.4 mm and a mean height of 18 mm. Knowing the prevalence, shape, size, and anatomic location of this bursa may aid the clinician in the differential diagnosis of lateral knee pain.