I don't mean to sound stupid, but how do you do that? I would love to try it out.

 

Pretty simple. Take the panel off, remove the old carpet. Sand downt the remaining fuzz with some 40-80grit. Then you cut your bowtie(or any other shape) out of 1/4" MDF or as I used cardboard due to my shortage of materials. Glue that in place on the panel...Now tape off the entire panel pther than the area to be carpeted. Use some strong spray glue and coat your carpet and the panel. After it cures for about 5-10min lay your carpet down evenly and work it into the cracks very well with a blunt tool such as a closed set of needle nose pliers. Make sure to work it well around the logo as well to ensure visibility. Then with a VERY sharp razor make a cut around the peremiter of the area your carpeting. Lift up the outer carpet and you should have a finished panel...

Thinking about it now I should have snapped some shots and made a DIY...