Heavy metal (HM) pollution nowadays is a hot issue concerning global ecological and food safety. As one of the most important woody bamboos for edible shoots in Southeast Asia and southwest China, Dendrocalamus brandisii usually occurs in red soil with a high HM geological background. However, the bioaccumulation process and possible risks of HMs in their cultivation area remain unclear. In this study, a comprehensive risk assessment of HM pollution was conducted in the main cultivation area of D. brandisii under two cultivation patterns in Yunnan, China. The results revealed that moderate to heavy HM pollution existed in the soil of the study area, while bamboo shoots displayed either no pollution or weak contamination. The “large-area intensive afforestation” cultivation pattern can better control HM pollution in soil and shoots than the “small-scale farmer management” pattern. Strong and complex correlations among HMs were unveiled in both soil and shoot samples. The Cr content of 39% of the shoot samples exceeded China’s national standards. Cu and Zn were the two most easily accumulated HMs in shoots, with BCF of 0.1235 and 0.1101, respectively. Bioaccumulations of As and Cd were positively correlated with their concentrations in soil. Furthermore, the positive matrix factorization model (PMF) identified three main sources of soil HMs, i.e., Pb and Zn from traffic emissions accounting for 30%; Ni, Mn, and Cr from pedogenic parent material making up 35.4%; and As from mining and metallurgical activities accounting for 34.6%. Monte Carlo simulations suggested the probability of total noncarcinogenic risk for children from bamboo shoots was 24.82% and that As in the soil was the primary element of health risk to children (HQc = 13.94%). These findings emphasize the urgent need to control and mitigate HM pollution from the identified sources and may contribute to the sustainable cultivation of D. brandisii and food safety in Yunnan and similar tropical areas with high HM contents.