You were right! I looked up cutworm. I did not know what they looked like. Thought they were pretty large.
So, went to look and sure enough, when I scratched around in the soil, I found several.
I'll take a flashlight out as soon as it cools off so I can really see under there and hopefully get all of them.
If I don't get them all - Anyone have luck with diatomaceous earth? I know I have some of it already.
Since I just got this plant a couple weeks ago, and have no other damage on any other hosta around the garden - or any other plants - I think it came with the hosta. I got the hosta locally where they dig them up and put in a plastic bag while you wait, not at a "regular" nursery, or in a pot.