The Elder Teensy is a character that appears in Rayman Legends. He appears as an old Teensy wearing red clothes, sporting a long white beard, and carrying a large wooden stick with a strange orb in it. He usually appears riding a cloud, and his job is to grant the player infinite Flying Punches in certain levels of the game. 
In the game files of Rayman Legends, the Elder Teensy is named "Gandalf", a reference to one of the wizards from the novel The Lord of the Rings by J. R. R. Tolkien.