Hide/Show Extension Toolstrip in Google Chrome
Some Google Chrome extensions add a menu or icon to the extension toolstrip, at the bottom of the screen. On some PCs and netbooks, this may turn out to be space consuming.

You can hide or show the extension toolstrip using a simple shortcut key in Google Chrome. To hide or show the toolstrip use the key combination, Ctrl + Alt + B.

Using the above key combination will either display or hide the extension toolstrip, depending on whether it is visible or not.
Hopefully this should help you reclaim some extra screen real-estate on netbooks and laptops with smaller displays.
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Great tip for Windows, but I do have one question. How do you hide it in Mac OS X?
@Tim I am not sure how you do that in Max OS X, as the build might be different that what is used in Windows.
Thanks Keith.
I can’t perform it in the latest build (4.0.222.5) of Chromium on OS X, so I hope it’s available in the future as many people might be looking for that functionality.
I pressed “Ctrl + Alt + B” many times but toolstrip is not visible on my PC at all.
I'm using Windows XP and Chrome 4.0.249.43
@Suchi – The newer versions of Chrome does not have toolstrip, so the above shortcut will not work any longer