Does anyone know of a safe way to remove a sebaceous cyst at home?

No: When I have seen people who have tried to self treat cyst they often get infected and then the scarring can be worse.

Not a good idea...: Sebaceous cysts need to be excised in their entirety, including the area of skin which is involved. You risk pain, bleeding, scarring, infection and other problems if you try and take care of them at home. It is generally easy to excise them with appropriate training and equipment and it can usually be done in the office.