Revealing mistake: Whenever Monica's apartment is shot from the point of view of the balcony looking in, fake walls have to be put up across the room to cover the open space (since there is no wall there usually). When the friends are looking out the window at Ugly Naked Guy and his girlfriend in this episode, you can see that the rear wall does not extend nearly far enough - there is a large black space behind Monica.
Continuity mistake: Chandler is able to get into Monica's apartment to tell everyone that Underdog got away, but later when Rachel closes the door it is now locked. We can see the door as each person is leaving and nobody does anything which could be construed as locking the door before it closes. It's been often demonstrated in the show that the door doesn't lock automatically.
Visible crew/equipment: When Monica shuts the TV off while watching skiing, there is a closeup of the screen as it goes blank. You can see reflected in the blank screen an image of a man in a long sleeved shirt and tie, who does not correspond to any of the characters in the room.
Visible crew/equipment: When Chandler runs into the apartment to say Underdog has gotten away, a crew member can be seen reflected in the sun shaped mirror behind him walking through the back of the shot. It can't have been Rachel, Monica, Phoebe or Joey because Joey is sitting down and Rachel, Monica and Phoebe are nowhere near the mirror.
Continuity mistake: When the six are looking out the window at Ugly Naked Guy cooking his turkey, they are looking straight across the alley into his window. In "TOW The Giant Poking Device", Ugly Naked Guy's apartment is several floors below theirs in the adjoining building.