Continuity mistake: At the pleasure island before Lampwick gets into the wheel of fortune, he has his glass full of beer, then it is empty, then full again.
Character mistake: When Pinocchio goes outside and sees the sun for the first time, Geppetto explains, "The sun goes around the earth once a day." That is wrong. The earth revolves around the sun.
Other mistake: When Pinocchio transforms into a donkey the foam on the beer he holds is always stable instead of slowly disappearing as it should.