The most common and most likely answer to this crossword clue is the 2 plus 5 letter word UP YOURS
U
P
Y
O
U
R
S
Buddy explains!
The straight part
We know that "said to accompany 16A (two-finger salute!)" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case said to accompany 16a (two-finger salute!) = up yours.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.