Alright kiddo, so you know how you have a toy box and you can only fit so many toys inside before it gets too full and you have to take some toys out? Well, a disk quota is kinda like that but for your computer.
See, your computer has a special place where it keeps all your files and programs - it's called the hard drive. But just like your toy box, the hard drive can only hold so much before it's full.
That's where disk quota comes in. Your computer can use disk quota to set a limit on how much stuff you can store on the hard drive. So just like you can only fit a certain number of toys in your toy box, your computer can only store a certain amount of data on the hard drive.
The good news is that if you're running out of space, you can either delete some files or ask the person who set up the disk quota to give you more space.
In short, think of disk quota like a limit on how much you can store on your computer's hard drive - just like you can only fit so many toys in your toy box.