WD-40 will remove white out from wood furniture. Test in a small inconspicuous area first. Spray directly on the stain, wait about 15 seconds then wipe with a paper towel. You may have to do this several times. Then wipe with a clean paper towel and spray with Endust or Pledge and wipe again.
Rubbing Alcohol will remove white out from carpeting. Again test in a small inconspicuous area first like in a closet or in a corner. Pour the rubbing alcohol directly on the Wite-out then rub vigourously with paper towels. Continue until stain is gone. Rinse well with cool water until smell of alcohol gone. Dry with towels or microfiber cloth.