How would you fix this?

Scotch tape?? That's a thought Ray, but I'm going to hold out for a while. Maybe something better will come along.
I did that when I was pulling off the stencil. Cool huh?

I painted the orange first and then masked an inch top and bottom and sprayed the center red.
I'm pretty pleased with the results except for that dang hole.

I'm sure whatever it takes to fix it will be hard to do.

AND-----It still won't fit in my truck!!

Frank: I've seen Windy build up spots he had sanded through with rejuvinator. If you can pull the covering up with a pin or knife blade tip you could add as many coats a necessary and then sand smooth and touch up. Better than tape ?

Hey Leester------I used clear dope (thick) and pushed it into and over the hole. It fixed it just fine. By this morning the dope was shrunk and the surface was ready for a dash of white touch up. All in all not a bad fix.

Frank,

For small holes like this, I will often just dribble a little CA on it and smooth with my finger. Let it go off then sand lightly, dab on a bit of fillercoat, sand and repaint. Seems your method worked fine, though.

Frank: I'm happy that you got it fixed, now you can sleep better or dream about your R/C babe. 

Yeah getting it fixed was a good thing..........BTW..my r/c babe (Roxanne) has converted to c/l. We have a circle out back and she is prego. I'm now getting a solid 8 hours of sleep a night.