The special effects were hilariously outdated. There was a part with 3 special jewels, and one made you invisible. There was a griffin, and a minotaur, and I think they fought. Oh! And the hero fought a statue of Shiva brought to life, and when he won, the natives attacked him for killing their god.
The Golden Voyage of Sinbad?
Caroline Munro was the highlight for me and the reason I remember it.
Sometime she’s the ONLY reason to remember a movie <cough>StarCrash</cough> 
Yup, that’s definitely it.