Malouda was part of the France squad who refused to train for two days during a disastrous tournament for the 2006 finalists.
The unrest was a reaction to a decision from Raymond Domenech to expel Malouda's Chelsea teammate Nicolas Anelka after a bust-up between the France coach and the striker at half-time in the game against Mexico.
French Football Federation president Jean- Pierre Escalettes is calling for Anelka to be banned permanently from playing for France.
But Malouda said: "If there is a punishment from the FFF, then I will take it. I accept responsibility for everything.
"I took part and I fully accept the deplorable image we gave off by refusing to train.
"Taking stock, once you understand the perception back in France, I admit that it was a bad decision. It was an error."