Terpsichore (one of the Muses) wears a midriff baring toga
At one point in the movie, there's a statue of a topless woman (probably Venus de Milo) with nipples showing. (It is shown very briefly though and is easy to miss)
A cloaked man flashes three characters but it is quickly revealed that he is a sundial salesman.
Phil peeps at nymphs and tried to chase them. He's unsuccessful and a nymph who turns into a tree slaps him.
Meg tries to subdue Hercules to tell her his biggest weakness. It turns out that she IS his weakness.
In the beginning of the film, a statue with full frontal male nudity is briefly seen, if you look away you might see it.
Hades suggests to Megara that he hasn't 'been throwing the right curves' at Hercules, gesturing the shape of her body as he says it.
Megara's cleavage's are shown
Hercules briefly comments on the story of Oedipus. "And I thought I had problems" Nothing or explicit is seen or discussed. Oedipus is never discussed again after this scene. Adults and well read teens will understand the reference, but it will go over the heads of children.
At one point Hercules confronts Nessus who kidnapped Meg. Hercules is not sure how to address Nessus by gender so he looks between his legs. Easy to miss by children.
Some very mild kissing scenes.
Lengthy sequence of a Greek Goddess seducing a Greek God (both depicted in human form). At the end the male form touches the female's shoulder strap, with an implied intent of removing it.