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You can do this in admin mode:
Go to admin mode.
Click your Content Type in either the Page Type or the Block Type tab.
Click at the property you want to set.
Click the tab "Custom Settings"
Either create a new Global Settings for your property (if you want to reuse these tinymce options on other properties) or click "Use Custom Settings".
Go ahead and add/remove the buttons you would like.
Click on Save.
Is it possible to set an xhtmlstring property to use a specific tinymce editor so you can decide what tinymce options that will be available for the property?
If this cannot be done, where do you edit your tinymce config file?