I attempted to place a location marker for an Antarctica location. The red pin is in the middle of the continent (where I wasn't!!) and I am simply wanting to delete the pin?
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I don't know for sure which version of iPhoto you have, but here's what you do in iPhoto '11:
-Select the photo that's associated with the red pin.
-Click the Info button in the toolbar at the bottom of your screen.
-In the Info panel that appears, click Places, and then click the location name.
-Finally, click the faint X to the right of the location name.
I hope that works for you.
Associate Editor, Missing Manuals