Teferi, Time Raveler limits opponents to casting spells at times when they could cast a sorcery. That can make your own turn much easier to navigate, since ordinary instant-speed responses are unavailable while his static ability applies. His other abilities provide sorcery timing flexibility for you and a bounce effect that replaces itself with a card.
The minus-three ability can return an artifact, creature, or enchantment to its owner's hand, helping remove a blocker or interrupt a permanent-based engine. You may also bounce one of your own creatures with an entry ability, such as Spellseeker, to reuse it later. Choosing no target still allows the draw, which can be useful when preserving the current board is preferable.
The plus-one ability lets you cast sorceries as though they had flash until your next turn. That can move a board wipe or another sorcery into an opponent's turn, creating a timing advantage in control decks. It does not give flash to every permanent spell or change the timing of ordinary activated abilities.
Opponents can still activate abilities and use triggered abilities, and Teferi does not remove spells already on the stack when he enters. He also needs protection from attacks. Use the timing restriction as part of a broader control plan, keeping the board manageable so the three-mana planeswalker can continue supporting your spells rather than disappearing immediately after one bounce activation.
