Thanks, Pilgrim.
What type of tool would you recommend?
Hmmm...I'm really open to suggestions. I looked back through the thread to see if there was a photo of the affected area. Knowing whether it's on a flat or curved surface would help. I'm guessing it's on a flat area, since most guys would probably put a sticker on a flat spot.
Lots of people use Meguiar's finishing products, and I'm sure they're good. I have used different materials. Depending on the size of the affected area, I think I'd probably use either a sanding block with a foam base (for a large area) or a 9V battery (small area) and mount 800 or 1000 grit wet/dry paper on it. I'd moisten the paper with mineral spirits (paint thinner-doesn't make wood expand if it gets into a pickup cutout), sand just a few strokes at a time, and keep an extremely sharp eye out for any sign that I was sanding through a clear finish layer.
When I thought I'd just about gotten it as good as I could without going through the finish, I'd go to 1200, then 2000 wet/dry paper.
I'd then polish the surface with 3-M Finesse-It II machine polish, which is very mildly abrasive, but wouldn't do more than take out the sanding scratches. I have a buffing wheel that I can chuck up in a 3/8" drive drill and I'd probably try that very gently and briefly if hand-polishing wasn't turning out the smooth surface I wanted.
This may sound like a contradiction to the buffer advice I gave earlier, but I'm suggesting a very light application with a relatively low-speed buffing mechanism, and only to achieve the final surface polish, not to remove the imperfections.
I don't think that we know whether this bass is finished in poly or lacquer, but since the finish distorted under the sticker I'm making the assumption that it's lacquer and therefore vulnerable to this process. I don't think poly would have reacted that way.
Others may have equally good or better suggestions....