How do I sever this fig without hurting the new growth? I 've never seen anything this cute.

It looks neat but ya need to get it off so it doesn't take the energy needed for root development. If the cutting is too tender to just snap off the little figlet then I would use a razor blade. Fig surgery, better call the tree doctor!

Razor blade is a good idea. 

An Exacto knife is a razor blade with a sharp tip and a handle. It's the perfect tool for this kind of thing. A #11 scalpel is similar.

Twist

Guinness book of world records .....The worlds smallest fruit bearing tree :)

Would it kill the plant if I let its fruit grow?

Possibly.

you'll need a pair of steady hands :) you might want to let it hang in there long enough to get clear place to put the blade on. or gently twist like jon said. i have bonsai pruning shear, tiny one. that worked fine for this years cuttings.

Pete, I have some tiny scissors used to cut babies nails, that I know how to use... I just have to get the courage to sacrifice it.

We're all behind you. Come on, do it, do it, do it! Your cutting will thank you.

Done! it is the size of a snow pea. I feel awful!

Good job, now bring the patient to recovery.

don't feel bad. it's all good for your future crop. beside, i had to take off quater size Black Madeira that i missed. now that felt really bad. i was considering it to ripen. if the BM all die in winter storage, at least i could have tasted one.

Who needs the recovery the Figlet or Grasa?

Looks like the operation was a success. Good job!