The technical and proper chemical name for what its dicoverer, Roy Plunkett, renamed to the more pronouncable (and trademarkable) Teflon.

PTFE, as it's also known as, has a carbon backbone chain with each carbon connected to two fluorine atoms. It is a vinyl-type polymer, and its structure is very similar to polyethylene. Polytetrafluoroethylene is made from the monomer tetrafluoroethylene through the process of free radical vinyl polymerization.

     F  F  F  F  F  F  F  F  F  F
     |  |  |  |  |  |  |  |  |  |
VVV--C--C--C--C--C--C--C--C--C--C--VVV
     |  |  |  |  |  |  |  |  |  |
     F  F  F  F  F  F  F  F  F  F