You shouldn't delete items from list you iterating through:
But you can make new list from the old one with list comprehension syntax. List comprehension is very useful in this situation. You can read about list comprehension here
So you solution will look like this:
text = "Hey look Words!"
def anti_vowel(text):
return "".join([char for char in list(text) if char.lower() not in 'aeiou'])
print anti_vowel(text)
It's pretty, isn't it :P