Here is my low poly way: On the lower leg, loop cut ankle line. Extrude foot shape from front polygon, 2 steps. Add subsurface modifier and you get the base shape. Extrude sole geometry from bottom and add some loop cut to refine the shape. - See this image on Photobucket.
This is Overlord, a character I modeled for Animation Mentor. He is a character from "The Horde" project. Design and Art Direction by Dei G. In the DEISIGN STUDIO render shading and lighting was done by Michel Alencar, rig by Joshua Cote.