I haven't done this now, but I thought it'd be nice to share with you.
I bought this old looking jeans, but it happens that they´ve frayed and got a hole too big after just a little use. Since they are skinnies and tight, it would look like I had a piece of flesh wanted to run out of the hole. I didn't like it at all.
So, I thought of something to fix it, and this is what I got: I sewed with a zig-zag stitch, a piece of black lace in the holes place. Voilá! Now it's wearable again, everyone loves it, and it's become one of my favourites (no kidding, I am wearing them right now!).