10
As trolle3000 and b3 mentioned, you use brackets containing indices to extract subsets of the string.
To answer the additional question of how you work on the string, I suggest that you split the string at each space, and convert from hexadecimal to decimal numbers.
s = '01 ED 01 F9 81 C6';
hex2dec(regexp(s, ' ', 'split'))
ans =
1
237
1
249
129
198