From the Frankfurter Würstchen to the hot dog.
That's the order to go in when figuring out why they chose to be the Hot Dogs at
Frankfort (Ind.). It's one of the most commonly known unique mascot names in America, but let's go back to Germany to see how it all came to be.

Photo courtesy of Frankfort Class of 1976
The Frankfurter Würstchen is a famous food in Frankfurt, Germany, and basically it's very similar to a hot dog, as it is a small sausage with pork.
John, William and Nicholas Pence were the founders of the town and they wanted to honor their family heritage by naming the town after Frankfurt, where their great grandparents were from. And once the high school began its life in about 1892, it was only a matter of time before the town's heritage played a role in the mascot name choice.
In America, we know the hot dog as a food associated with baseball games and summer barbecues. Furthermore, there are a couple other meanings that can apply. The first is just a dog (canine) that is hot.
The second, however, is the one that is commonly used to describe the style of some athletes, but not likely an endearing term. According to the Merriam-Webster Dictionary, to hotdog is to "Perform in a conspicuous or often ostentatious manner."
So it's definitely OK to call the kids from Frankfort a bunch of Hot Dogs. Whether they hot dog while they play is another question.
It's a clever mascot name considering the town's history, especially when you factor in that not too many schools want their mascot name to be a food item or a term for showboating.