You should be able to see the list of remembered networks in Settings->Wifi Settings on the watch. Scroll down the list and the option should pop up.
Turning off Cloud Sync in the Android Wear app will disable the wifi connection.Thanks for the reply, but I did not want to change the settings but wanted remove a WiFi connection.
Since I am on BL, can not find a benefit for having it. Do not want it just seeking other WiFi signals.