[pdiggitydogg]

Well, depending on how large your fist is, you can:
Cut the hole into a square
Then take a piece of drywall, cutting it roughly 1.5-2.5" larger than the hole in the wall. (the more the better)
Now, take a razor knife and score 1 SIDE of the replacement square 1.5" along each edge.
What you do next is peel the drywall and paper off 1 side of the patch, leaving the other side of the paper. Just insert the plug and mud over the paper.

If the hole is larger than say, 3x4", Id suggest doing the same thing above, but also buy a 10-12" section of 1x1 (aka furring strip) and screw that into the good drywall around the hole, making a brace for the patch.

This is as good as I can explain it right now. I do drywall...fuck that mesh shit

edit***oh, and yes, it takes several coats of mud, and sanding before youre done. You really can use that mesh stuff and a ton of mud, but I just dont like to.