Teak looks sensational and I think is a great choice for outdoors, its used for a lot of outdoor furniture and even boats so should last you for a long time.
In saying that though as with any timber you need to look after it to get the most out of it, oil it as needed, clean it at least once a year or more if you're getting any mould or moss on it and look out for joints where water pools and dry them off and/or turn them upside down to dry. I find oil is easier to reapply, with most other finishes you'll need to sand them off before reapplying.
Also check how its constructed and ask where the timber is from.