Revealing mistake: After the alley cat has put Fernando in his mouth, Speedy runs back and forth before hitting the cat on his foot. If you watch carefully, you can see nothing hits the cat's foot at all, but he reacts as if in pain.
Continuity mistake: During the slow-motion sequence, Speedy approaches the alley cat with a firecracker and you can see that the cat's hair is sticking up, but when Speedy jumps on the cat's outstretched tongue in the next shot, his hair is now flat.