Varnishing an oily wood is possible, but not directly. After repeated degreasing with Cellulose Thinners — until the cloth stays clean — and sanding to at least 180, lay a base that keys: 2000 Pale Shellac Sealer Basecoat, with a brush, then the chosen shellac polish, French Polish or Button Polish, in a warm dry workshop. A water-based varnish such as Quick Dry Varnish Kitchen and Bathroom needs the same isolation before its 2 to 3 coats 3 to 4 hours apart. On garden teak, forget the film: outdoors, it always ends up flaking; oil only.
Teak can be imitated. Its golden brown is a stain in the range, which goes on a more common wood: Light Fast Stain Teak, spirit-based, on oak, ash or beech — does not raise the grain, dries in 10 to 15 minutes, is light-fast; Water Stain Teak 3-35 on a softwood that would blotch. Sanding 80-120-150-180, degreasing, a test on an offcut, then the finish: Wax Clear, a shellac polish, or Hard Wax Oil Natural on a floor. The grain will stay that of the original wood; the colour, that of teak.