There is one of those tags on a piece of furniture I have that isn't to be removed, etc.?

Question:The tag on the furniture, which looks like leather, says:
All New Material Polifred HR 30. Anyone know what that is?

Answers:
Once you've bought it it is yours to cut off, or chew off, or burn off, or melt off, or anything else you want to do to that obnoxious little tag.
It is actually a tag that the law requires to identify the content of any upholstery material. The only people who must not remove the tag are the merchants who sell the item.
If merchants were not required to tell what materials cushions are stuffed with we'd be buying furniture stuffed with owl pellets and bat spit.
Polifred HR 30 is most likely a kind of foam manufactured from petroleum or silicone, plasticky stuff.