Well, opinions are cheap! Here's mine:
It assume you already have the tools to rip and route the PVC material, and its cost does not seem high. Compared to the cost of teak, and the amount of work required to maintain teak, it seems like a fairly inexpensive experiment even if it lasts only a season or two. Try it and see how long it lasts.
Be aware that routing plastics will require sanding. The speed of the router bit will generate a lot of heat, and cause the plastic to melt. I have cut (using a circular saw) and routed plexiglass, that's how I know. That is why sanding will be required.
Even if you have to buy the tools, it would be worthwhile experimenting with the PVC first, That's because, were you to so it in teak, you'd have to buy the tools anyway. And teak is not cheap!
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