The shape of holes can be recognized as accurately as the shape of objects (Palmer, S. E. (1999). Vision science: photons to phenomenology. Cambridge, MA: MIT Press), yet the area enclosed by a hole is a background region, and it can be demonstrated that background regions are not represented as having shape. What is therefore the shape of a hole, if any? To resolve this apparent paradox, we suggest that the shape of a hole is available indirectly from the shape of the surrounding object. We exploited the fact that observers are faster at judging the position of convex vertices than concave ones (Perception 30 (2001) 1295), and using a figural manipulation of figure/ground we found a reversal of the relative speeds when the same contours were presented as holes instead of objects. If contours were perceived as belonging to the hole rather than the surrounding object then there would have been no qualitative difference in responses to the object and hole stimuli. We conclude that the contour bounding a hole is automatically assigned to the surrounding object, and that a change in perception of a region from object to hole always drastically changes the encoded information. We discuss the many interesting aspects of holes as a subject of study in different disciplines and predict that much insight especially about shape will continue to come from holes.