The following status is being passed around facebook:
"Please do me a favor: hover over my name right here; in a few seconds you will see a box that says 'subscribed. Hover over that and then go to "comments and likes" and uncheck it. That will stop my posts and yours to me from showing up on the scrolling sidebar for everyone to see. If you re-post this I will do the same for you. Thanks a bunch"
If you run across it,
DO NOT DO WHAT IT SAYS!
DO NOT REPOST OR SHARE IT!
This has nothing to do with eliminating stuff from the sidebar or eliminating the sidebar. As far as I know, there is no way to eliminate the sidebar.
What it does have to do with is:
Every profile has a subscribe button on it. You can even subscribe to posts from people you aren't friends with. This subscribe button lets you subscribe or unsubscribe from their posts. It also allows you to choose what posts of theirs show up in your newsfeed.
Links from facebook help about this:
What are subscriptions?
How can I manage the types of updates I’m subscribed to?
So if you do as the post says, you . . .
only end up eliminating that friend's comments and likes from your newsfeed.
** Closing Note **
Please, before you repost and share something you find shared by another on facebook, take a moment to find out if it is true or not. So much of the stuff reposted and shared are just so much incorrect junk that someone started just for the mischief of it.