Nickname for Cate Blanchett. Because of the odd spelling of her name, her common independent and cameo film appearances, resemblance to a feline, and overall warm and comforting acting method, she could very well be a Cat's Blanket.
Stu: Na, I ain't never seen that film.
Laura: Trust me, we saw it.
Stu: Who was in it?
Laura: No one big, except for... What's her name, the British lass...
Ryan: Cat's Blanket?
Laura: Yeah, her.
Stu: Dude, that movie sucked.