open your Instagram and start using Instagram social app.
open your home page and scroll down to see different posts.
soon you will see sponsored Ad like this.
click on top right option of sponsored Ad like this.
an option bar will open up.
click on the option "HIDE Ad" like this
now it will ask you why you want to hide this Ad.
you will got 3 options like this.
choose any option
in this way that particular sponsored Ad only will be hidden for future.