Def. 1: Used to describe something particularly easy, generally a task.
Def.2: Used to describe someone of the opposite sex, particularly in how easy it will be to pick that person up. A sure thing.
origin: beginner's little league game of the same name, where the degree of difficulty in hitting a baseball is reduced by placing it on a tee for the child to hit.
"I know the guy who runs that place, so getting our friends in should be teeball tonight."
Synonymous to phoneballs, teleballs enable one to say things telephonically, that is, over the phone, that they would not normally be capable of saying when face-to-face.
See phoneballs.
"Dude, last night, I totally told Karen that she's a douche bag."
"Yeah, but Robbie, let's face it. You're like every other 'obbie' out there, you just grew a pair of teleballs. And dude, you smell like piss."
A baseball metaphor (along the lines of getting to the plate, to 1st base, to 2nd base... etceteria) for a member of the opposite sex that obviously desires coitus but will not make the first move. He/she is just sitting there and all you have to do is "make contact" and the deal is closed i.e. home run.