There is no difference between a poodle and a teddy. Poodle refers to a poodle, and Teddy is a certain stylistic name for a poodle. Teddy simply refers to the Poodle in such a grooming form and not to a breed. The Teddy look applies to any poodle, even the giant poodle. As to why it is said that the red coat is the true Teddy, it is simply because a Poodle with this coat is closer to a teddy bear toy.
