I don't like to have icons cluttering my desktop. I have figured out a way to remove the Time Machine volume icon from the Finder without affecting Time Machine. I want other external drives to be visible, so the Finder's preferences are of no help here. Apple actually provides everything needed. I will explain how to remove the volume for Finder using Developer Tools, and without having Developer Tools installed (like me). Please note that Time Machine Volume refers to the volume Time Machine is backing up to, or any volume you would like to hide.