Thanks to wikihow.com/Remove-Background-With-Photoshop-Elements I was able to remove fairly quickly the background of this image.
I did the same process on a different letter (A) and found that the narrow strips of white were not able to be made transparent very easily. When I find the answer to this problem, I will post it. However, the use of the background eraser tool gets most of the background.
It is very important that you do NOT save this image as a jpeg or your white background will reappear. Save as a GIF or a PNG (24) instead.
Hope this helps some of you as it helped me.