Continuity mistake: Glinda places her wand on the square-shaped stone at the graveyard. Oz tries to take the wand off the stone and she notices him. She then puts her hand around the first corner of the stone. In the next shot, her hand is suddenly approaching the first corner.
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Continuity mistake: After Oz and Theodora have climbed down from the small cave where they hid from their first encounter with a flying baboon and are having a brief conversation, the brim of Theodora's hat alternates from being held up on her right side in the shots from behind her, and being down as it normally is in the shots from in front of her. Presumably this was done to prevent the hat brim from obscuring Oz's face.
Continuity mistake: After Oz tells Finley he'll get a nice big pile of bananas, Finley tosses down Oz's bag and goes on a rant about monkey stereotypes. When he first throws down the bag, he is close to the middle of the yellow brick road. It cuts to a close up and he is suddenly standing right next to the edge of the road.