Female marionettes perform a can-can dance and their underwear is shown. Jiminy Cricket ogles them briefly in this scene

During the sequence where the boys are vandalizing a building in Pleasure Island, a boy pulls down another boy's pants, briefly showing his little rear end.

One of Gepetto's wooden clocks consists of a woman spanking a little boy's bare buttocks as he cries out with a jar of paint in his hand.

Jiminy Cricket puts his hand on a toy woman's bottom area by accident but quickly gets his hand off of it when he notices.

A clock shows a mother spanking a kid with her hand is mild not violent

Mild cartoon action:

A cat hits a fox on his head with a mallet two times. The cat bashes the fox on his head, using the same object.

A cricket falls into billiard holes twice. This is played for laughs.

Children are shown throwing bricks at buildings, knocking stuff down, etc.

There is peril throughout the movie.

The word "gypsy," a racial slur for the Romani people, is used a few times.

Stromboli curses in Italian gibberish when he gets angry in some scenes.

"Jackass" is pretty much the only swear word that is heard 4 times. It is used to refer to both a donkey (a visual metaphor) and a foolish person.

Pinocchio and Lampwick are shown smoking cigars, and drinking beer. As Pinocchio is smoking, Lampwick tells him that he is not doing it right and says, "come on! Take a big drag!" So Pinocchio does, and he gets extremely high, and he can barely see straight. And also, Geppeto is shown smoking a pipe in one scene.

Smoking is shown:

Geppetto is shown with a pipe.

Pinocchio and Lampwick smoke cigars.

Pinocchio and Lampwick also drink beer.

The smoking/drinking is done by children. However, the film clearly discourages it.

just the appearance of Monstro, a big black whale with many sharp teeth and an aggressive look, could scare some kids.

Stromboli threatens to turn Pinocchio into firewood.