You could disconnect the oxygen sensor wiring - but the engine is going to be "unhappy" about this because this sensor reading is used to set the air/fuel ratio. It is my guess that the control module will revert to the cold engine setting (the oxygen sensor needs to be "hot" to function so when the engine is started cold, it runs on a richer air/fuel ratio until the oxygen sensor gets up to operating temperature). With the richer fuel setting, the carbon monoxide and hydrocarbon emissions will be higher (NOx lower).
Why would you want to do this?
Mike in Seattle 91XLT 4x4