Yes — the NHS says it's fine to take Tylenol (acetaminophen/paracetamol) at the same time as Pepto-Bismol, since they're different types of medicine that aren't expected to interact, but stick to the dosing on the label and ask your pharmacist if you take other medicines.
Tylenol's active ingredient, acetaminophen, relieves pain and fever and is a different drug class from Pepto-Bismol's active ingredient, bismuth subsalicylate, so they aren't expected to interact dangerously when used as directed — the NHS states plainly that "it's safe to take paracetamol at the same time as Pepto-Bismol." The reason this matters is that Pepto-Bismol contains a salicylate (the same family as aspirin), so the NHS warns against pairing it with aspirin or ibuprofen without medical advice; acetaminophen is exempt from that warning because it is not a salicylate or NSAID. The main risks come from each drug on its own, not the combination: acetaminophen overdose can cause serious liver damage, and bismuth subsalicylate carries salicylate-related precautions.
Keep total acetaminophen under 4,000 mg per day from ALL sources — check cold, flu, and pain combination products, which often hide acetaminophen (it may appear on labels as APAP), and don't take three or more alcoholic drinks a day with it because of liver risk. For the Pepto-Bismol side, ask a doctor or pharmacist first if you take a blood thinner (e.g., warfarin), daily aspirin, or medicine for diabetes, gout, or arthritis, and avoid it if you have an aspirin/salicylate allergy, ulcers, a bleeding disorder, or kidney disease; do NOT add a second NSAID or aspirin alongside Pepto-Bismol without advice, since it already contains a salicylate. Because Pepto-Bismol is itself a salicylate, do not give it to children or teenagers recovering from flu or chickenpox (Reye's syndrome risk). Stop and seek care for ringing in the ears, black or bloody stools, or signs of overdose, and call a pharmacist before combining if you're pregnant, breastfeeding, or on other medicines.
This is general reference, not medical advice, and not a guarantee of safety. Interactions depend on your doses, health conditions, and other medicines. Always confirm with your pharmacist or doctor before combining products, and follow the dosing on each label.