The pair received 19 out of 30 points from the judges for their Tango on Broadway night.
Bono said he's sad to go, but doesn't consider it bad news.
"There's a joy that I have in this whole experience," he said. "This truly was a life-changing experience."
Asked what one thing showed him about himself that makes him smile, Bono said, "just how much I can do, how much I'm capable of, how much I can overcome."
"I really had no idea until I was challenged on every level, which this show does," he said. "I'm talking about just the pressure, the physical aspect, overcoming pain and discomfort and fatigue and anxiety. It made me a better human being."
Along the way, he got ready to Rumba, tackled the Paso Doble, moved with the Samba and tried out the Tango.
"The first week, no one expected this guy to do a step on the dance floor, so to be able to get him to move, dance, remember routines, wear sparkles and go out there and have fun doing it, it just makes me feel really good," Schwimmer said.
Hope Solo and partner Maksim Chmerkovskiy were also on the chopping block but were spared. The show's viewers may have had something to do with it after Chmerkovskiy's heated exchange with head judge Len Goodman.
Along with Solo, five other celebrities remain in the contest: actors David Arquette and J.R. Martinez, reality TV personality Rob Kardashian, and TV hosts Ricki Lake and Nancy Grace.
Carson Kressley, Chynna Phillips, Kristin Cavallari, Elisabetta Canalis and Meta World Peace, formerly known as Ron Artest, have already been eliminated this season.
Kristin Chenoweth returned to the stage to perform "Lessons Learned" from her new album, "Some Lessons Learned." The Broadway veteran was accompanied by professional dancers Tony Dovolani and Dasha Chesnokova.
Country music entertainer Martina McBride performed "I'm Gonna Love You Through It," the hit single from her new album, "Eleven." McBride was accompanied by professional dancers Chelsie Hightower and Val Chmerkovskiy.
Next week, the remaining six couples do their individual dances and they split into two groups for the team dances.