Mongolians traditionally consume a diet rich in animal-derived fats, often exceeding recommended limits for saturated fat intake. This pattern reflects both cultural preferences and the wide availability of dairy- and meat-based fats in rural and urban diets. This study investigates the consumption patterns and quality characteristics of commonly used vegetable oil and animal-derived fats in Mongolia, with a particular focus on sunflower oil, olive oil, rapeseed oil, clarified butter, and greaves. A total of 142 participants (57 males and 85 females, aged 18–84 years) were surveyed. Dietary fat intake was assessed using a structured food frequency questionnaire and food composition tables, including fats from traditional meals, fried foods, baked goods, snacks, and condiments. All participants reported regular consumption of both plant-based oils and animal-derived fats. Notably, animal-derived fats accounted for a significantly larger proportion of daily intake (Mean: 60.7 ± 50.9 g/day) compared to vegetable oils (Mean: 16.8 ± 17.6 g/day) (p < 0.0001, Wilcoxon test). Sunflower oil was the most widely consumed vegetable oil (63.8% of total plant oil intake), while homemade clotted cream (urum) and clarified butter ranked highest among animal-derived fats. Total dietary fat intake was significantly associated with gender (p = 0.003), occupational status (p = 0.030), and age group (p = 0.014), indicating demographic variations in dietary fat habits. Laboratory analyses were conducted on selected oils to determine their melting and freezing points, iodine number, total acid number, and content of unsaturated fatty acids. Results revealed that repeated heating led to increased acidity and a reduction in unsaturated fatty acids, indicating deterioration in oil quality. The findings suggest that Mongolian adults consume higher-than-recommended levels of saturated animal fats, with relatively low intake of unsaturated vegetable oils. This imbalance, combined with the use of repeatedly heated oils, may increase the risk of non-communicable diseases. Recommendations are provided to promote healthier oil choices and improve dietary fat quality in Mongolia.