I like the style but I build more ASAP Teemo with AD in the very end then AD/AP. I usually start boots and three health pots then after some early game kills (that teemo will always have) I go back and grab Beserker boots, sometimes with enough left for a Stinger than Malady sometimes both (usually both). I then grab a Nashor's Tooth and work towards Rylai's Scepter which will give more health and AP. By then I can outlast a 2v1 with little resistance using Flash and Health as a support. Rylai's can be swapped with Rabadan's Deathcap in build order depending on how targeted I am at mid game. If there is another teemo grab Rylai's so as to outlast him, otherwise Rabadan's leads into melting tanks and steamrolling AD carries. Hextech gunblade is ferocious for the last item of the build but comes really handy in some team fights late game, but this still has then con of being silenced/blinded/stunned which can lead to death if your team can't buy you time. I once was stunned by Malphite with a xin and sion coming in as support but with Jax next to me who jumped in with his slow which stopped their advance and by then I was free and we killed two before the Surrender (theirs) timmer ran out.

A pretty good build, but I don't see the point of using Ghost when you already have Move Quick. I mean, Ghost can help, but there are more valuable summoner spells, like Heal, Surge, Ignite, etc. Overall, a good guide.

With a hybrid/AD focus like this, you should consider replacing the merc's with berserker's and I'd replace the Nashor's with a Hextech Gunblade (I prefer the life steal and spell vamp and AD to the CDR and AS. The CDR isn't that important for hybrid/AD Teemo, but it's not that big of a deal).

I'd also change your buy order around. Get a Wit's End, Phage, Malady, finish your Frozen Mallet, then get a Madred's and Hextech or Nashor's (with the last two in whatever order you want). Wit's End is amazing early and mid game. Malady is good mid game and the magic pen really helps late game. Madred's is always good, but for the high cost and dmg that scale with max health, it's better to wait until the later stages of the game.

Just my 2 cents.

Interesting build.

However, Madred's Bloodrazor is a situational item. It is bought only to counter high health, little magic resist champions. Madred's Bloodrazor deals magic damage and is countered by magic resist. It also cost a lot.

Instead, I would opt for getting Wit's End before Madred's Bloodrazor and even consider opting for a better item to replace Madred's Bloodrazor, possibly Hextech Gunblade if you're still going with the hybrid build, or Black Cleaver for more attack speed and shredding through on-hit effects.