Instead, head over to your local department store and buy a few luggage tags that are designed to obscure your address from plain view. It satisfies the airline's requirement that your bag be labeled, but it keeps your address from being proudly displayed to any bad guy that happens to wander by. It really is $2 well spent.
I know you are thinking, "But what about my cute little luggage tags? With the castle...and the balloons?" Well, I am certainly not going to suggest you let them go to waste! Instead of your home address, write down your name, the name of your resort, and your cell phone number and tuck it into the tag. Attach the tag to your stroller, your cooler, your park bag, or anything else you plan on bringing inside the park with you. Now if you drop or loose something, it has a fighting chance of being returned to you!
When you get home, you can recycle the tag for anything else that you want...gym bag, back pack, lunch box, whatever! Just be sure that if you let your child use it that you do not put their name out in plain view. (Somehow kids think that if a stranger knows their name, then they are not a stranger.)
My tag is still attached to my cooler and my camera bag. I take a little bit of Disney with me where ever I go...