It is possible to remove a skin tag by tying a piece of thread or dental floss around it. Basically, by tying some kind of string around the tag you cut off its blood supply. Without any blood supply, the skin tag will eventually fall off.
Using this method can leave behind a small "stump" if the skin tag is not tied off as close to your regular skin as possible. This is why some will claim that their skin tags grew back. Skin tags do not grow back if properly removed! (This, however, does not mean that you won't develop new ones - people with skin tags tend to get more as they get older.)
To Remove a Skin Tag with Dental Floss or Thread
1.) Tie a piece of thread or dental floss around the skin tag as close to your regular skin as possible. Basically, you want to tie the thread at the bottom of the skin tag's base.
2.) It needs to be tied tight in order to cut off the blood flow to the skin tag.
3.) Once the skin tag is properly tied off, it will generally fall off within a week.
4.) If your skin tag doesn't fall off, you either a.) haven't tied the string tight enough around the base; or b.) the base of your skin tag is too large to properly cut off the blood flow with a thread.
If this method doesn't work, try using a natural skin tag remover.