Like EdLee said, you can definitely tenuki after the push at the 3-2 point. However, a white pincer at R8 next (for the bottom right) might make black uncomfortable. I might prefer as black to play at R9 next - this is a valuable extension along the side, and the R2-R9 exchange doesn't look all that profitable for white so early in the game.
- Click Here To Show Diagram Code
[go]$$B 19x19 board
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$$ | . . . . . . . . . . . . . . . . 9 . . |
$$ | . . . . . . . . . . . . . . . . a . . |
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$$ | . . . . . . . . . . . . . . . . 3 . . |
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$$ | . . . , . . . . . , . . . . . 1 . . . |
$$ | . . . . . . . . . . 6 . . 2 . . 5 . . |
$$ | . . . . . . . . . . . . . . b 4 8 c . |
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Actually, after the  -  joseki with  elsewhere,  is one of the followups white can play, after which black probably wants to respond with  to keep his group safe. Who this exchange favors depends on the rest of the board. Also, instead of , white can instead play at 'a', after which  is common to ensure life in the corner (and also gives a large followup at 'b'). The important part is that you can see and have a sort of miai relationship (which implies white is not in a hurry to choose one play over the other, lest he regret his choice later). But, if you respond to with 'c', white can play 'a' next and get both miai points while making black cramped in the corner. That is white I called in the game submissive - by tewari, we can see black should probably not have responded in the corner to white's 3-2 move.
To your second question regarding punishing N16: it makes sense that you would ask that, but thin moves are quite often not punishable right away. Instead, thin shapes will usually come back to bite their owner over time or require their owner to spend an extra move to correct. So while the shape is thin, trying to cut it immediately is probably an overplay. Instead, wait and see what you can do later.
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) is a thinner than a 1-space jump, but it's not (necessarily) a bad move.
exchange