Just as an object emitting text and/or sound can be annoying, objects can be visually annoying as well.
I propose three different kinds of "visual muting".
The first is a "texture mute". I'd like a "texture mute" in the pie menu on an object. By selecting a "texture mute", that texture would be replaced with a either a "solid blank dark grey" (or some other neutral texture like the region default terrain texture), wherever that texture appeared, on whatever sim I was visiting. This effect would be client side only. This would allow me to block images I found offensive (certain adult ad farm textures, certain 'shock' textures used by griefers, etc...) so I didn't have to see them.
The second is an "object visual mute". By selecting this type of mute, the specific object would be rendered only as a wireframe, with no textures whatsoever. Again, this effect would be client side only. This would allow me to not have to see specific objects which rotate through their textures.
The third is an "owner object visual mute". Like #2 above, except that it would wireframe ALL objects owned by a particular avatar, regadless of where I saw them.