GhostTile lets you hide running applications from Dock in multiple ways:

• Drag-and-Drop
  
• Select from /Applications folder
  
• Click icon on Dock
  
• Per app config to hide or add menubar item
  
• Per app keyboard shortcut
  
• Notification for added Apps' Dock activities
  

GhostTile also has multiple ways to quick switch back:

• Click on menubar
  
• Call out Quick Switch window
  
• Alias folder on Dock
  

Other Features

• Keyboard Shortcut support
  
• Alfred v2 Workflow support
  
• Easy installation
  
• Support sandboxed application
  
• No on-disk modification