Here is a guide to choose an acceptable polish compound. Several of these can be found at your local shop, depending on the brands they carry. Polishing compounds can either “cut” quite a bit, meaning they are more abrasive, and better for removing paint material. Or, they have less abrasives and they act as more of a polish to increase gloss. Some are pretty much in the middle. The ScratchesHappen brand is a high quality, ceramic particle, medium abrasive compound, which doesn't cut too aggressively, and is good for removing fresh touch up paint or clear coat , without damaging the factory finish.

We think any of the products in this roundup that have a medium to higher cutting action will work well to remove paint or level the clear coat.

 
Here is a chart that is also helpful to see how some common products compare: