An example of how to modify what image presets you are allowed to insert through the wysiwyg editor.

mycustom_media.module

<?php
/**
 * @file
 * Code for the mycustom media feature.
 */

include_once 'mycustom_media.features.inc';

/**
 * Implements hook_media_wysiwyg_allowed_view_modes_alter().
 *
 * Remove image styles when inserting images using wysiwyg.
 */
function mycustom_media_wysiwyg_allowed_view_modes_alter(&$view_modes, &$file) {
  $allowed_formats = array(
    'mycustom_media_custom_special_110x110',
    'media_original',
    'another_image_style',
  );
  foreach ($view_modes as $key => $view_mode) {
    if (!in_array($key, $allowed_formats)) {
      unset($view_modes[$key]);
    }
  }
}

/**
 * Implements hook_media_browser_plugins_alter().
 *
 * Unset unrequired media browser plugins in wysiwyg editor
 */
function mycustom_media_media_browser_plugins_alter(&$plugins) {
  $disabled_plugins = array(
    'media_internet',
    'media_default--media_browser_1',
    'library',
    'ns_media_browser--media_browser_1',
    'media_default--media_browser_my_files',
    'mycustom_media_browser--media_browser_my_files',
  );
  foreach ($disabled_plugins as $plugin) {
    unset($plugins[$plugin]);
  }
}