The perfect v-neck cozy sweater can be hard to find. Many years ago, I stumbled on one that was thin enough yet provided adequate warmth, long enough to wear with leggings or yoga pants without being shapeless, and tailored enough to dress up for a cold evening out or to work. So, you can imagine my chagrin when my husband announced to me one evening, "you've got a hole in the elbow of that sweater."
I was buying supplies for Christmas decorations when I stumbled on these:
Elbow patches in a cute pattern! And iron on, so no sewing required!
I measured the distance from the end of the sleeve, so the two would be even,
Carefully ironed (no steam!) for the alloted 30 seconds...
and voilà! New life to my favorite sweater! You could probably do the same thing with any bit of cotton fabric and fusible tape/fabric.