Here's what I started with. A flesh tone wool cardigan (J.Crew) with the most lovely little buttons that I thrifted sometime last year (ish).
It had some holes needing to be mended, and once mended, camouflaged! Nothing a little stabilizer, embroidery floss and needle can't fix ;).
Check out the step-by-step over here.
Hope this helps you see the potential in some of your clothes that start to go holey...there is hope for them yet! Or for a boring sweater or cardigan that could use a little pop!