Karen asked that I remove one of the links from the gift registry on the internet WSS family site. Instead of removing it, I decided to hide it from anonymous users. Note that during this process, we are warned that "You are about to create unique permissions for this item. Changes made to the parent folder or list permissions will no longer effect this list item". This is an important concept to understand before proceeding.

1. Navigate to the list.
2. In the context menu available when you hover over the link, click "Manage Permissions" > Actions > Edit Permissions
3. Click Ok in response to the warning
4. Click the check box next to Visitors
5. Actions > Remove User Permissions > Ok

Now anonymous users can't see this one link, and if Karen ever asks to undo this action so that we can see the link again, I can navigate to the link item, click Actions > Inherit Permissions.