Assuming you really want to get rid of it, waxing is the best (and most painful) option. Second would probably be a cream, such as Nair (there are many brands).
Shaving, well can you shave your own back? I had a friend who had his sister do it for him. Downside, it comes back stubbly and scratchy.
But I must say, if it looks like that photo you posted, then it's no big deal. As far as girls/ women liking it, it's all about preference. Some love it, some don't, and a lot don't care either way.
Another (stranger) option would be to bleach/ dye it a light color to make it less noticable. Chicks do this if they have moustaches, it seems to fork well enough.
Or dye it some far out color and make a statement. (What statment, I don't know.)
Really, it's not that big of a deal. If you personally hate it, remove it. If you're just worried about what other people think, quit worrying.