Ad-Block Plus is what I use. I have the Mozilla based Flock and it works perfect. You can edit your advertisement rules and blocked items or you can disable it on a site or page with just two clicks.
I am not 100% sure, but I *think* that they have an extension/add-on for each browser. I have always used Firefox or the Mozilla-based Flock so I wouldn't know if it works for IE or Chrome or anything like that.
Hope this helps a little.