Yes, there is. You can use a plane.
You just have to put a texture on the plane.
And if you want to make it so that the plane is a bullet hole, I would create an empty game object and put it in there. The empty game object could be the bullet hole transform. You could do something like make the plane's z be 0.1 in the empty game object so that you can see the full texture when it hits and make the x rotation 90 so that when it hits, it will be flat, like a bullet hole.
Basically, just add a transform variable, like the particle variable, and make it get instantiated.