Since the beginning of spring 2022, successive landslides have occurred in the eastern pit slope of the Wolong Coal Mine in Qipanjing Town, Otog Banner, Inner Mongolia, which has adversely affected the mine’s production safety. This study aims to reveal the deformation patterns and failure mechanisms of landslides. Firstly, this study establishes the stratigraphic structure of the eastern pit slope of the Wolong Coal Mine using extensive field geological surveys combined with unmanned aerial vehicle photography, drilling, and comprehensive physical exploration techniques. Indoor geotechnical tests and microscopic experiments reveal that rock mass typically exhibits the characteristics of expansibility and water sensitivity. Moreover, the mechanical parameters of the rock mass were determined using a combination of the window sampling method, the Geological Strength Index, and the Hoek–Brown strength criterion estimation theory. Finally, this study consolidates the previously mentioned insights and employs FLAC3D (7.0) software to assess the stress–strain characteristics of the excavated slope. The results indicate that the deformation mode of the Wolong open pit coal mine is the toppling failure of soft-hard-interbedded anti-inclined layered rock slopes. The unloading effect and rock expansion-induced softening lead to stress concentration at the slope corners and more substantial deformation, thereby accelerating upper slope deformation. The deformation and destabilization process of landslides is categorized into four stages: the initial deformation stage, the development stage of lateral shear misalignment, the development stage of horizontal tensile-shear damage, and the slip surface development to the preslip stage. This research offers valuable references and engineering insights for future scientific investigations and the prevention of similar slope-related geological hazards.