(Oh how I love quick, simple and cheap!):
Put a generous amount of spackling or joint compound in the small hole. You can apply it with anything, even your finger. Just dab it with a wad of toilet paper or paper towel and you get the same "rough" finish as the rest the wall. If the material was too wet and the patch sags, dab it again as it dries. If it shrinks when dry, repeat the process.
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