Possible Clues:

• Shoelace receiver
• Opening detective allowed
• Hole for, eg, shoe lace
• Sounds as if I permit a little whole of this
• Small ring, for shoelace perhaps
• Loophole allowed to observer
• Shoemaker's hole
• Sort of embroidery decoration I allow, from the sound of it
• Sounds if that little hole is a little island
• Small hole as in needle or shoe