If you are tired of seeing the Dropbox icon in your menu bar, or if you are simply going for a minimalist look, then follow these few steps below to remove the Dropbox icon from your menu bar.
Step 1) Download this app, MacDropHide made by Sebastian H, a member of the Dropbox team.
Step 2) Unzip the app and drag and drop it into your Applications folder.
Step 3) Open the app, it will give you a brief warning and then ask if you would like the icon to disappear. Click yes.
Step 4) To restore the icon back to its rightful place, simply reopen the app and it will give you the option to bring the icon back, simply say yes.
And that's all there is to it! Post in the comments below if you have any questions.