That thing looks a little bit on the big side.....

I just shot the tag removal section for the Full Cap DVD. I use an x-acto triangular tip blade to cut several of the stitches from the top of the tag. As soon as it starts to unravel, I VERY CAREFULLY lift the tag away from the base and start cutting the stitches from the bottom of the tag, making sure I don't cut the lace. This is easier with french lace but can be done with swiss if you are careful and go slow.