I was going to reply with something sarcastic like, I much prefer the dog's bollocks to the bee's knees but having found this on Google:
What is the origin of the phrase 'the bee's knees'?
The
phrase was first recorded in the late 18th century, when it was used to mean 'something very small and
insignificant'. Its current meaning dates from the 1920s, at which time a whole collection of American slang expressions were coined with the meaning 'an outstanding person or thing'. Examples included
the flea's eyebrows,
the canary's tusks, and one that still survives -
the cat's whiskers. The switch in meaning for
the bee's knees probably
emerged because it was so similar in structure and pattern to these other phrases.
I have no idea why 'the flea's eyebrows' didn't catch on. Shame.