Posted on. (Answer #1). Teflon is a brand name of chemical compound of fluorine and carbon called polytetrafluoroethylene (PTFE). The name teflon has now become so popular that it has acquired the position of generic name for this chemical.Teflon is a plastic material that is highly resistant against chemicals, corrosion, and oxidation.he name teflon has now become so popular that it has acquired the position of generic name for this chemical. Teflon is a plastic material that is highly resistant against chemicals, corrosion, and oxidation.