Within the universe of the Venture Bros, the Teddy Talk-To-Me Doll is a stuffed  that talks via a built in cassette tape] player similarly to the real world equivalent, Teddy Ruxpin. Like its inspiration, Teddy Talk-To-Mee's eyes and mouth move as its speaks.
The voice of the doll was provided by Teddy Talk-To-Me, an actor that (according to Henchman 21) became a supervllain after he got caught in a burning doll manufacturing plant in Asia. Driven mad, Teddy was eventually caught and sent to Dunwitch Asylum for the Criminally Obsessive.
In the episode Every Which Way But Zeus, the Venture Family use a Teddy Talk-To-Me Doll as once of the voices of Doctor Rusty Venture's "kidnappers". Doc believes the doll to be an actual person. In Momma's Boys, it is revealed that Hank Venture and Dermott Fictel have been using the doll and a prepaid phone at night to distract Dr. Venture while they sneak out at night. Apparently, After Dr Venture calls the phone nonstop for a week, Dermott notes that Dr. Venture is going through "doll withdrawal". After going for too long without speaking to it, Dr. Venture eventually becomes afraid something horrible has happened to Teddy. He searches the Venture Compound and discovers the doll, thinking "Grumpy Bandersnatch" has placed a tape recorded inside it to record everything Teddy has said.
After Doc leaves, Gary Fisher suggests to Dermott and Dean to seek out the real Teddy Talk-To-Me in Dunwitch Asylum in order to calm down Dr. Venture. They get themselves committed as insane supervillains and eventually instigate a riot, in which Teddy is separated from them and escapes on his own. However, their problem solves itself when Teddy meets Dr. Venture and Sgt. Hatred and saves them from falling into Bygone Gulch. With such an event, Dr. Venture gets the peace of mind that Teddy is okay.