Thanks, everyone! I should have mentioned from the get-go that repairing the hole really won't make much of a difference. For one thing, it's a 2-inch tear, and for another, the area all around it is paper-thin, so I think another rip would just be a metter of time. I'm keeping it, though, for when I run out of rags, the next time we paint, or for when dd gets into fort-building.
I did hit Bed, Bath, and Beyond this weekend, and I really scored! I went in planning to get just a fitted sheet, but couldn't find any 100% cotton ones for less than $42.
: So, I went ahead and bought a whole sheet set for $32! I had a 20% off coupon, and the original price was $40, so when all was said and done, I got more for less.
They're nice ones, too! 450 thread count, very thick-feeling (at least compared to my whispy-thin old ones) and a pretty textured windowpane pattern. Score!