The Lion King - In the part where big Simba, Timon, and Pumba are lying down at night looking at the stars, Simba gets up and walks away to a small cliff. He then plops down on the edge of the cliff and a whole bunch of dust flies away and in the cloud of dust you can see the word sëx.
And, what Rafiki really says is "Asante sana" -- Swahili for "Thank you very much" -- followed by "squashed banana." As the phrases repeat over and over, they run together and produce something that does sound somewhat like "Squashed bananas up your arse."

Aladdin - In the part where Aladdin is on Jasmine's balcony being stalked by her tiger he is saying, "Good kitty, good kitty." You can hear him mumble, "Good teenagers, take off their clothes!"

Toy Story - In Sid's room you can see that his wallpaper is a bunch of pictures of marijuana leaves.

The Little Mermaid - In the part where the wedding is going on and Eric and Ursula are walking towards the preist, he is bulging out of his robe.

The Rescuers - When Bianca and Birnard are taking off on the seagul, they are going really fast and you can see buildings going by really fast. With the naked eye, you can see 2 pictures of topless women on one of the buildings. It goes by so fast you can barely see it!