We discuss a scenario in which brown dwarfs are formed like stars, except that their full collapse phases are interrupted through dynamical interactions in small multiple systems, leading to the ejection of the lightest member. This disintegration is a stochastic process, often resulting in the expulsion of newborn low mass stars, but when it occurs early enough the ejected stellar embryo will be a substellar object. This process may be so common at early ages that a large fraction of the ubiquitous brown dwarfs could have formed in this manner. Detailed gas dynamical simulations are required in order to better understand the details of the decay of small newborn multiple systems. We discuss the observational consequences of the ejection hypothesis, noting especially the importance of binaries with brown dwarf components as an observational test. Finally, we note that brown dwarfs that have recently been ejected may be so disturbed, by infall from the collapsing core and also by heavy accretion from perturbed circumstellar disks, that traditional spectral and luminosity criteria may fail to identify their substellar nature.