The teatimer.exe process is part of SpyBot's Search and Destroy software for removing malware, spyware and adware from users' PCs. The TeaTimer option within SpyBot is responsible for monitoring suspicious activity on your PC. Once enabled TeaTimer runs behind the scenes notifying you when a process is launched and checking the legitimacy of that processes, and also offering you the option to stop the process if you wish. SpyBot's TeaTimer will also inform you when a process wants to modify one of the important registry keys, giving you an extra opportunity to protect your PC from malware threats installing themselves on your computer.
As mentioned, SpyBot is designed to protect PCs from threats associated with spyware, adware and malware. Adware refers to software that, once installed on your PC, will display adverts (such as pop-up ads), or log your Internet activity and then forward this to a third party (for a variety of reasons including allowing that third party to customize the adverts targeted at your PC)
Desktop
The distinction between adware and spyware is largely that adware installs itself on your PC with your consent while spyware installs itself without consent. In practice this distinction is a fine one since a common strategy used by the designers of spyware is to attach the spyware to another more useful application which people might conceivably want to download willingly. Examples can include peer-to-peer file sharing applications, toolbars and comedy desktop characters.
While some software will make it explicitly clear that adware is being installed, in practice this consent may amount to little more than adding a sentence or two of heavy legalese somewhere in the end-user license agreement. Unless you read the EULA carefully you may not realize that you have permitted someone fairly untrammeled access to the information on your system.
Teatimer Exe
Other than anti-spyware and anti-adware tools SpyBot has a limited range of anti-malware tools. The word malware is generic covering all malicious software. SpyBot is able to offer protection against a limited range of Trojans and has anti-rootkit functionality.
For more details about teatimer.exe, can check out SpyBot's official forum too.