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I’ve only been able to fix it by clearing the com.mojang folder once. Doing it again didn’t fix it. I’ve had similar issues happen on Cubecraft, Realm Servers, Local worlds, and even on worlds with no addons or texture packs enabled. I will have to get good screenshots of those.

Same issue happened to me while I was playing on Cubecraft.

The issue seems to affect 3d models the most, but menu graphics and other textures have also corrupted. I was able to momentarily fix it by clearing my com.mojang folder, but tabbing out of the game in fullscreen mode brought it back.