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[Mogrits <mogrits AT gmail.com>]

A polyurethane caulk like NP-1 would be the best caulk (silicone is
about the worst) but the product you are describing is called "peel &
seal"- is a rubber membrane with an aluminum foil outer backing and an
adhesive on the other side- you cut it to size with scissors and stick
it on the holes. They also sell it in round patches. Here's a long
link to it:
http://www.google.com/products?hl=en&q=%22peel+%26+seal%22&um=1&ie=UTF-8&ei=gPezSfnKGY_ftgeR3NzDBw&sa=X&oi=product_result_group&resnum=4&ct=title

Hope this helps.
Warren