Does such a word exist?
Supposing that my intention in saying "Do good!" was actually "Do well (on your test)!", the sentence still parses correctly as "Do good (deeds)!"
I will attempt to think of more examples and update this if/when I do.
This seems related to a pun in some way, but I was unable to find information about it. (Without knowing the word to begin with, I find it very difficult to navigate wikipedia when looking for "pun-related" words. I.e. It took me forever to find tom swifty and paraprosdokian.)