I hate it when I don't know what to do

Okay moms I need advice. I'm slowly learning how to punish my son. When I say punish I mean put him in timeout for about 23 seconds. However what I don't know is when is an appropriate time for punishment. This afternoon I was doing dishes and I realized Brandon was being FAR to quite. Soo I sneak around the house until I find him. Sigh! He was in the bathroom. He had unrolled all of the toilet paper in small amounts, dunked em in the toilet and then suck little wet toilet paper balls all over the bathroom. Then he took the little freshener thing I had in the toiled off and dropped it in the toilet. When I came in he was using the plunger to try and scoop out the toilet freshener thing. I told him no, picked him up, washed his hands and took him out of the bathroom. My mom said I should have put him in time out.

SHOULD I HAVE?

On one hand I felt like it was mostly my fault for leaving the door open and not watching him. On another hand I thought it was freaking hilarious and so very very cute. And then on the rational hand I really felt like maybe I should have punished him. BUT really, does something like that really constitute a time out?

Please moms, I'm a punishment rookie. All help and advice will be greatly appreciated.