A homographic pun is a phrase that contains a word that has the same spelling for two different meanings such as the word 'right' which can correct, or the opposite of left. The word can also sound different for the two meanings, the only requirement is that the word is spelt the same in either case. This makes homophonic puns funnier when reading them rather than hearing one. They are also called heteronymic puns.
Examples of Homographic Puns
A lingerie thief gave a police officer the slip.
This is a homographic pun as the word 'slip' has two possible meanings in this sentence. It could mean 'go or move quietly or quickly, without attracting notice' where the thief has avoided the attention of the police officer, or it could mean 'A loose-fitting garment, typically a short petticoat' where the thief gives the policeman a garment.
A pun can be made on any subject except a king who isn't a subject.
In this pun, the word subject could have one of two meanings. It could either mean 'A person or thing that is being discussed, described, or dealt with' or 'A member of a state other than its ruler, especially one owing allegiance to a monarch or other supreme ruler.'.
Definitions and meanings sourced from Oxford Living Dictionaries