You can take the suit off, but both the front and back stars have two little posts that stick out of them and go into two holes in the back and chest. You have to go in and very carefully cut them off to get the suit off. And doing it without damaging the suit is a real bear.
I did it, and cut the suit a little, but luckily it was hidden behind the star. I took the suit off and put it on a Winter Soldier body to make a "Bucky Cap" figure. Also used a stitch puller to remove the left sleeve so his whole arm would show.
It can be done, just be very careful and take your time.