How can I translate the schematics into something i'll understand. I have no idea what the image is. Can someone direct me, thanks

 

Rt and Ct are an RC timing component pair(Resistance/Capacitance) The waveform suggests a triggered monostable multivibrator.

 

T is the trigger input
Q is output
Q bar (or not Q) is the opposite of Q (when Q is high, not Q is low and vice versa)

If there was a part number inside the big box, on top of it, or under it, you could find its datasheet which is the key to understanding it.

 

I love multivibrators

 

I may have fond the answer. Pretty close to this.

See pic, (got this from http://www.falstad.com/circuit/e-multivib-mono.html )

Can someone confirm that the components used in this circuit are..
1 switch
5 Resistors
1 capacitor
3 Transistors (I have bc547 - Can I use that?)
And i'm guessing that when I change the value of the capacitor my out put pulse can be controlled?

Thanks

 

The BC547 will work fine in that circuit.
Yes, changing the capacitor value will change the timing.