Alternate Character Interpretation: Unshaved Mouse has argued that Jose is not as benevolent as he seems, due to his use of (in his own words) "black magic", and his description of Bahia ("When you go to Bahia, my friend, you never return!") that sounds quite ominous out of context.
Big-Lipped Alligator Moment: There are many scenes to pick from, but most prominently when gorgeous women pop up at random in Donald's own personal, acid-induced battle with lust. Often in...strange ways. The DVD even labels the scene "Donald's Surreal Reverie".
Designated Hero: Jose and Panchito, despite being supposedly good friends of Donald, are surprisingly cruel to him throughout the film. During the titular song, they stomp over him and point guns at his head. Then, while he's trying to hit his Piñata, they pull it out of the way and laugh behind his back as he accidentally hits himself with the bat. Finally, during the final bullfight sequence, Jose lights up Donald's bull costume just to screw with him, then shoves a pair of firecrackers up his ass.
Jose and Donald aren't much less violent towards Panchito while he's singing, straight up attempting to murder him repeatedly, in ways that sometimes backfire (such as when they tried to saw the floor out from under him).
Since these are ducks and parrots, creatures with brains the size of walnuts, the trio's behavior in general may be attributed simply to a very short attention span, rather than malice.
The Aracuan Bird was apparently such a hit, he would later be found driving Donald crazy in later Disney shorts.
The Three Caballeros, as a whole, are Ensemble Darkhorses among the Disney fandom, some going as far as to consider them as a better Power Trio than Mickey/Donald/Goofy, particularly in their respective representative countries.
Heartwarming Moments: After Yaya gets left behind by the others, Donald shows up with a bouquet of flowers for her, which immediately earns him a kiss from Yaya.
Hilarious in Hindsight: An obscure one, but when the narrator of the last story before Jose's introduction says "Let it go, let it go" when he's having trouble deciding whether or not he was on a tree or rock when hunting.
Ho Yay: Although the trio shown to have attractions to many girls, Panchito and Jose (especially Jose) shown to have strange attraction to Donald as well. So maybe they really are three gay caballeros! Or well, two, seeing as we know for a fact that Donald likes the ladies, but still.
"Now we're three gay caballeros!" is really just the icing on the cake for the trio's theme song. They frankly make the Village People look like the Duck Dynasty bunch. To say nothing of the scene where Donald accidentally smooches Jose several times while blindfolded (and Jose not seeming to mind all that much).
Memetic Mutation: The scene where Donald tries to resize himself by blowing into his thumb, only to inflate into a bunch of random shapes has become very popular among deviantART users, for obvious reasons.
Nightmare Fuel: Certain parts of the film can be a little too surreal for some. Especially "Donald's Surreal Reverie".
Sequel Displacement: The Three Caballeros remains better-known and more-often-milked than Saludos Amigos. The fact that Caballeros was the most widely available post-Golden Age package film on VHS for a long time, while Amigos ended up becoming one of the last two to come to the format, certainly helped.
Special Effects Failure: A lot of times throughout the Bahia sequence, it's obvious that the live-action actors are just standing in front of an animated screen with the characters on them.
Viewer Species Confusion: Many viewers are unable to tell that Panchito is a rooster upon first viewing (Doug Walker even called him a woodpecker in his Disneycember of the film), most likely due to him lacking a wattle.