To remove old Teflon, a petrochemical-based solvent is required to dissolve the substance. When followed by the appropriate safety precautions, gasoline works quickly and effectively. Pour enough gasoline into a metal pan outside to cover the components wrapped in Teflon. After the Teflon has dissolved, use old rags to wipe the threading and remove the pieces. Rinse the components in clean, cold water and dry with a clean towel.