Plumbers teflon tape as in pipe seal tape? I'd think that would be too thin.

You can get a similar creature for electrical uses however. It's just like electrical tape but sticks only to itself when you stretch it. It's pricey compared to other tapes but it's zero mess and you don't have to worry about heat turning your tape into a sticky mess.

The only issue with either type is that you have to be wrapping something. If you're just patching something it's not so useful.