Slang for Teddyboy.
The opposite of Mods -- they were the boys that your mother warned you about, the black leather-jacketed rough boys, the British version of greasers. The Beatles when they were on the Reeperbahn were Ted Lite.

Punk can be said to have grown out of the Teds. If James Dean and Marlon Brando were British they would have been Teds.