thanks for the comments ladies! I can pull the labels off because they're already starting to come off on the corners and edges. Just by rubbing the fabric vigorously w/ my finger will get rid of the residue - not the stains though.
I pulled one label off and i'm going to soak it in some Biz/Oxyclean solution and see if the stains will come out. I know i wont harm anything.
Then i'll hand sew the label back on.
Thanks again!