Continuity mistake: When in the apartment with the NYPD Officer, the door is open in the background. When the two DEA Agents arrive, they have to open the door.
Continuity mistake: Near the end of the film Mick Dundee changes clothes with a Columbian drug dealer to lure his accomplice out. The film then shows his old friend taking aim at what he believes is the Columbian, he aims his rifle as you see Mick and the Columbian walking right to left. Mick's friend shoots, hitting his target on the left side. When you next see Mick a few seconds later his right arm is wounded.
Continuity mistake: After rescuing Walter in the water, they both get out and they're soaked. When Walter enters the camp, his clothes and his hat are 100% completely dry. There is no way he could've been dried off completely that fast.