Other mistake: The scene where Alice is giving Tiger a bath was the same one used in "Katchoo Katchoo", albeit with some audio dubbing thrown in, like when Alice complains about the floor getting wet. (00:04:05)
Other mistake: A final contest is given for control of "green stamps" with all the kids building a "House of Cards." Whomever causes the cards to fall will be the losers. All is going well until Tiger comes in and knocks into Greg and causes him to bump the table and knock over the cards. If you watch closely at the end of the scene, when all the dialog is finished, you can see Mike trying to knock down a few remaining cards. However they keep popping up. Probably due to the fact that the cards were glued together to make it easier for the kids to build upon.
Answer: The dangling bracelet was used for dramatic purposes - to keep the audience on edge.