Trip its circuit breaker and unplug whatever's in the outlet. Assuming the smell dissipates, call your favorite electrician for a nonemergency visit to investigate the cause. If the smell persists, however, you know the drill: Exit the house and call
You can save a lot of money by doing your own wiring. Here we'll show you to wire an entire room. Even if you've never picked up an electrical tool in your life - Meer over Draad, Geld en Elektrische Bedrading.