Holey moley

A shawlette made from Noro Kureyon Sock Colour S250.

That's all very jolly, but it's got a whopping great hole in it!!!

 I knitted this last summer and it has sat unblocked for ages.
I started with three stitches and increased from there.
I don't know really know why I left it untouched for so long, but after I had soaked it for a short spell and went to rinse it, I saw it had a blinkin' hole in it!

Can you see Toby's face keeking out? (I am Scottish, I say keeking, not peeking. I also say sook not suck, but that's a whole other discussion for a tea shop in Granada at 3am.)

 I don't know what has happened here.
When I was knitting it I was very, VERY conscious of the whole thick> thin going on with the yarn.
Have I just been unlucky that a lot of thin areas have aligned and caused a weak spot?
Is it a splice which has gone wrong (I don't actually remember splicing it TBH.)
Or, worst case scenario, have critters got to it?

 Is this the kind of thing moths would do to a knitted object?
I feel a bit sick of it at the moment and don't imagine myself doing anything at all with it.
If it were feltable I'd blanket-stitch round the hole and make it the centre of a flower or a sunshine or something, but it's superwash, so no joy there.
I may secure it and then put a fancy button or knitted flower or even butterfly over it.
Covering it with a button may also be an option.

 I do remember thinking while I was knitting it, "I'm glad I'm not actually making socks here, the yarn doesn't seem all that durable, but then again my other knitted socks are made from Regia and my
Jaywalkers, for instance, are six years old.

There are some other very weak spots too, likes of near the point.
I may just cut it up and make it into embellishments of some kind.
What do you think?
And what would you do?   x K