There is currently no way to temporarily disable your Instagram account. When you attempt to do so, Instagram's website explains that a user can only permanently delete their account. This is stated in their Help Center as well.
Once you delete your account, all files and photos will no longer be recoverable and there is no way to reactivate your account. You can sign up again later, but will not be able to use the same username ever again.
Tip: One way you could achieve a similar result would be to simply remove all of your photos from Instagram and delete all of your comments. You could also make a picture using a graphics application that tells your friends and others on Instagram that you're taking a break from using the site.
Find tips on how to get more followers on Instagram at Huffingtonpost.com.
It's no secret that for those in the art industry, being Instagram savvy can pay off. Check out these 10 tips for promoting yourself (and your art) on Instagram from artnet News.