Mending holes in clothing or in earlobes can be done. Some methods work better than others. Often with both, simple preventive measures are very useful. When mending clothes, resewing a button before it is lost is best. Using an iron-on interfacing to re-inforce an area in a garment where the fabric is getting thin can prevent the hole from occuring or at least delay it, giving longer life to the garment.
For earlobes, not wearing heavy ear rings can help prevent the stretching of the hole. Being careful when put on or removing clothing so as not to "catch" the earring can help prevent the lobe from being torn. Being careful around babies/toddlers who want to play with shiny/dangling objects can help prevent the lobe from being torn. Another way is to use the "earlobe support" which is a stick-on disc that help support the earlobe when heavy earrings are worn. Used early, this can prevent the stretching or slow tearing of the lobe due to the weight of the earring.
The Z-plasy or L-shaped scar avoid the "W" by changing the scar into a non-straight scar. Which one is best will depend on the tear and shape of the earlobe being repaired. Also, it may depend on whether there is an intention to re-pierce the earlobe. Not all do. As I have not figured out how to put sketches in my text, I have linked here to Dr. Michael Bermant, MD site. This is usually an office procedure done using a local block. Most insurances will not cover this procedure as they consider it cosmetic in nature.