Overview:
This bug tries to look cute by providing some "buddies" but it collects information about you and delivers you ads if you're not careful. The data mining by itself is HORRIBLE, but then delivery ads on top of that. It will also try to install additional bugs on your system! Their privacy policy is really quite scary.

Destroy Autorun:
Delete the following keys
HKEY_LOCAL_MACHINE\software\microsoft\windows\currentversion\run\bonzi buddy
HKEY_LOCAL_MACHINE\software\microsoft\windows\currentversion\run\bonzibuddy
HKEY_LOCAL_MACHINE\software\microsoft\windows\currentversion\run\clickthebutton

Reboot your system then:

Make sure you click start --> Run and type in msconfig. Then select the startup tab. Any references to the processes below.

End Processes (may or may not exist):
bbsetupad1.exe
bbsetuphom.exe
bbuddymini.exe
bbsmartsetup.exe
bbsmartstubfal.exe
bonzibdy.exe
bonzibuddyuninstall.exe
msagent.exe
savenowinst.exe
spchapi.exe
tv_enua.exe
wcinst.exe

Unregister DLLs:
Tip: this is only a list of known files/locations. You will want to do a search by the name of the file to see if they're on your system.
A while back I wrote a guide to Register/remove DLL or AX files which you will need if you don't know how to unregister these files.

C:\windows\system32\bonzitapfilters.dll
C:\Program Files\bonzi.com web compass\wclogic.dll
C:\Program Files\bonzi.com web compass\webcompass.dll
C:\Program Files\bonzibuddy\bonzictb.dll
C:\Windows\system\bonzitapfilters.dll
C:\Windows\system\webcompass.dll
C:\Windows\system32\bonzitapfilters.dll
C:\Windows\system32\webcompass.dll
webcompassbar.dll

Remove Directories:
C:\Program Files\bonzibuddy
%profilepath%\start menu\programs\bonzibuddy
Program Files\bonzi.com web compass

Clean your Registry:

You should be back to normal IF this was your only problem. I suggest you post in our HJT forum since its not likely that this is your only bug. Read this first