At dual-color alone, I think a 3 drop creature can be a 3/3 nowadays, especially if green is one of those colors. Why does controlling a blue permanent give menace? Blue isn' particularly related to menace.

This could be a 3/3 with always menace for that cost, tbh

I like the flavor of this card a lot. Though, I don't know when you'd want to instant-cast a 3/2. I'm not even sure you could use this as an emergency blocker, but maybe that's possible.

Though, i guess you could cast this at your opponents end step to have a 3/2 with (essentially) haste by the time it's able to attack...

This should be a 3/3, but it could probably get away with being a 4/2. Adding 1 power to this doesn't make it harder to kill, but it does increase it's threat level, giving the opponent more incentive to burn their removal cards on it. Imo, that's a big part of the game that being able to push at common rarity shows a set is well-developed.

All-in-all, this isn't overly weak, but would benefit from one point in power or toughness.

Also, this would go well in a (budget) temur Ferocious deck :)