To skip an individual instance of a scheduled event for a course, go to the Calendar and click on the event to be skipped. The event pop up opens, and you can click the Skip button on the bottom of the pop up, and then hit Done.
This will make the event show up on the teacher’s calendar as greyed out, and will completely hide it from the student and parent view of the calendar. The event will not show up on anybody’s Today Pages.
To make a skipped event visible again, click on the skipped event and uncheck the Skip button. The event will become visible to everyone enrolled in the scheduled course.