No Spackle Hole RepairOne day while painting a room with latex paint, I noticed that larger drops of paint, when left to dry, became pliable like a putty. I hit on the idea that this half dried paint could be rolled into a a tiny ball and smashed into a hole left by a picture hanger. It worked. Even if you need to lightly sand smooth, the color is through and through.
Holes in DrywallIf you have a disposable bakers bag and a plain round tip, you can put a few tablespoons of putty in the bakers bag and pipe it into the hole.
Filling Nail Holes in WallTo fill nail holes in your walls where pictures once hung, mix up a couple of teaspoons of cornstarch and add water until it's a putty-like consistency. It dries relatively quickly and works like a charm.
Patching Plaster or WallboardTo patch small holes and fine cracks in plaster or wallboard, mix 2 Tbsp. salt, 2 Tbsp. cornstarch, and about 4 to 5 tsp. water to make a thick, pliable paste.
Homemade Spackle for Small HolesBack, way back in college dorm life, at the end of the year they would charge us if there were holes in the wall or marks etc. My room mate would take out the spearmint green tooth paste and fill all the holes to clean up any holes.