It is a flat-conical rubber pad embedded in a hole. You cannot grab it. Felco recommended at their website using a hand tap vise with a tap to dig in and pull it out. I had the vise but no tap small enough.
Use a cup hook. Screw it in carefully, so you don't strip the hole, then pull it out with the hook part. Easy. The hardest part is putting the new one in. They now recommend in the new instructions to heat the pad first. Sigh.