I worked concrete one summer while I was in high school, but I'm no expert and it was a long time ago. That being said, here's what I would try:
I'd give both of your solutions a shot first. However, if you end up completely destroying the two chips, I'd try to pour a new corner. Drill two holes into the corner of the foundation and dowel into it with a few inches of 3/8" re-bar. After you've hammered in the steel, form up the corner and pour the concrete.
Also, this forum includes discussion about how to repair similar cracks.
This website also explains a bit more about this type of foundation crack:
Brick that is laid directly in contact with concrete foundations can cause angular cracks like this in the top 12 - 16 inches of a foundation. These cracks are caused by the brick expanding and pushing the outer corner of the foundation with it. The cracks are not major structural problems.
It is often pointless to repair them as the next time it gets hot, a crack will likely appear in your repair material.
Depending on the size of the hole, there are different methods to fix.
Small holes - As @Oscilatingcretin says just some spackle, sand, and paint you are done.
Medium holes - A fist size hole or bigger is harder. Cleanup the hole area. Then take one or more more pieces of strapping and attach to existing wall to serve as foundation for the replacement piece of drywall. Cut replacement piece of drywall and fit to opening, attach to strapping installed previously. Then just fill in the gaps and screws with mud, sand, and paint.
Here's a diagram to help to visualize, let's say the hole is the wall is around 6" by 6":
![Medium size holes fixup](https://i.stack.imgur.com/JOnyY.jpg)
Larger holes - Most likely you will have to find the nearest stud to the left and right and make the existing hole bigger so that the new piece of drywall can be attached directly to the stud. For the top and bottom, you will have to cut some strapping or framing so the the replacement piece can be secured to the top and bottom as well, otherwise the seem will crack. Once the framing is in place, cut the replacement piece and secure to studs and new framing. Tape, mud and sand around the edges of your new piece. Paint. If done well and the mud is feathered out, one will not notice the replacement piece of drywall.
Here's a diagram to help to visualize, lets say the hole is 12" by 12":
![Large size holes fixup](https://i.stack.imgur.com/vXl9f.jpg)
For holes larger than that, probably best to replace the entire wall.
Best Answer
That's a tough one because plastic laminate is applied to the particle board substrate with contact cement, which is soft and rubbery. It's very good for large areas, but lousy for little fixes like that. To make matters worse, you need to remove the existing adhesive before carrying on.
If you can indeed get a repair disc from a hidden area, here's what I'd do: