If the burning part didn't make a smell, I'd drag something over the hole, or put down a smaller rug over it. (I have a rug over carpet where I'm livin; it may not be classy, but the carpet color was so boring.)

But I am cheap. [img]tongue.gif[/img] I guess it depends on how much it bothers you...and whether or not you think you'll be able to keep the cats from ruining your new carpet. If they're just going to wreck new carpet, maybe you can get some other type of flooring and use rugs?