As of 2015, no medicines have received approval for the removal of skin tags, according to MedicineNet.com. Cutting the tags off or tying them off with dental floss until they fall off are the most common treatment options.
Wart removers, nail polish, hair removal creams, toothpaste and tea tree oil are not advisable medical remedies for skin tags. If the growths are not an irritant, it's acceptable to leave them alone. In addition to cutting them and tying them off, patients can have the tag frozen with liquid nitrogen or burned off through medical electric cautery at a physician's office. In most cases involving smaller tags, no anesthetic is even necessary, reports MedicineNet.com.