Here's a breakdown:
* No quiero: I don't want
* Algo: something
* que es: that is
* hecho: done/made/finished
The phrase implies that the speaker is looking for something new, original, or unfinished.
Here are some possible contexts:
* If someone is looking for a new project: "I don't want something that's already been done, I want a fresh challenge."
* If someone is choosing a gift: "I don't want something that's already been made, I want something unique."
* If someone is describing their taste in art: "I don't like paintings that are too finished, I prefer something with more raw energy."
The specific meaning will depend on the context of the conversation.