!!The film

* AnimationAgeGhetto: The movie looks like an {{Animesque}} kids' cartoon; and the story can be mistaken for a standard fantasy story about quests and magic and unicorns. In truth, it's nothing of the sort. The book has won many awards and is considered by fans and other authors to be one of the best works of fantasy ever written and the film is a beautifully animated [[note]]Through a conjunction of Rankin/Bass and animators who would later to become part of StudioGhibli[[/note]] faithful adaptation of the story.
* SugarWiki/AwesomeMusic: The movie has a soundtrack that is ''way'' too awesome than a movie about unicorns has any right to be.
* BaseBreaker: The butterfly. Some find him hilarious, and see him as an EnsembleDarkhorse / OneSceneWonder. Others claim he's an annoying [[TheScrappy Scrappy]] who slows the story down.
* BigLippedAlligatorMoment: The bit with the tree falling in love with Schmendrick is a peculiar bit of broad comedy plopped down in the middle of a wistful and melancholy work. It's handled much more subtly in the book. However, it fits right in with the CentralTheme of the book, as the tree croons, "A tree's love is forever." Sound familiar?
* CultClassic: One of the most beautiful and deep forgotten gems of animation.
* EarWorm: Quite a few of the songs, annoyingly so.
* GeniusBonus: Molly's initial reaction to seeing the Unicorn is sad enough in its own right - but when you understand the mythology behind unicorns (namely that they're the embodiment of NatureAdoresAVirgin), her line of "Where were you when I was new?" takes on a whole new level.
* HilariousInHindsight: Red Bull became the name of an energy drink years later.
* OneSceneWonder: Numerous characters/voice actors quickly come and go, but Rene Auberjonois stands out as The Skull.
* PainfulRhyme: "When the first breath of winter through the flowers is ''icing'' / And you look to the north, and a pale moon is ''rising''"
* ViewerGenderConfusion: [[HarpingOnAboutHarpies Celaeno]] is constantly referred to as a female throughout, and has the [[MultiBoobage breasts]] to prove it, but when "she" is talking to the unicorn telepathically ("Set me free...we are sisters, you and I..."), the voice is clearly male.

!!The book

* ToughActToFollow: In a 1978 preface, Peter S. Beagle remarked that ''The Last Unicorn'' would "haunt the rest of (his) career," and that he grew "increasingly shy of talking about (it)." In this case, it seems that it wasn't the writing that Beagle grew tired of--it was the book. At San Diego Comic Con 2006, his remarks on ''Unicorn'' indicated he's not tired of the book so much as writing it was in some ways extremely difficult and painful... in contrast with other stories, which seemed to flow from him freely. He stated he had to fight to get the story written. Not something he enjoys thinking about.