It's present on the Urban Dictionary (my usual reference for that sort of stuff.)
1. teal deer A bastardization of "tl;dr", which is a bastardization of "Too long ; Didn't read." Usually presented in the form of a photochopped (sic) image of a deer. Thread starter: lengthy chat log Reply to thread: said image of a deer
Just thought I'd mention this amazing site if you weren't familiar with it. ^^
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The idea was that a PhD in the Humanities + Rudolf the reindeer = Too Long, Didn't Read
I'm a dork, what can I say. >.>