It's very easy to disassociate an Elastic IP address from a running instance. But, before you perform such an action, make sure that you really want to disassociate an Elastic IP address and not transfer an Elastic IP address to another running instance.
When you disassociate an Elastic IP from a running instance, it will remain without a publicly addressable IP address until Amazon can assign a new dynamic IP address, which could take several minutes. You should also make sure that you've already changed the DNS records accordingly to ensure that disassociating the EIP will not negatively impact your deployment.
You can disassociate an Elastic IP from a running instance at the deployment and instance levels.