What are these Tories you Brits keep going on about? I know it has something to do with political parties, but I'm not sure exactly what. Also, I've heard "Teutie and Tommie" before. Are they related in any way aside from them all starting with T?

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The Conservative Party, Tory/Tories is the nickname left over from the days of Whigs and Tories.

The Conservative Party

What Diuretic says. Though party boundaries mean little at the moment, you have the centre which is the right of labour, the left of the tories and most of the liberals (though they often seem to oppose both main parties and can show a lot of sense they are essentially a centre party). Then you have the left wing of the labour party, which includes significantly an ever decreasing number of socialists and the right of the tories which I can't say I know too much about.

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"Whigs" are the liberals by the way, just in case you were wondering.

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Tories are the Conservative Party - a bit like your American Republicans, only not so right-wing.
Labour Party - a bit like your Democrats, only more right-wing.
Liberals Party -no easy comparison and they are irrelevant anyway.

The "Tommie and Teutie" references are from WWI. English soldiers were called "Tommies" (for which I blame Rudyard Kipling) and German soldiers were called "Teuties".

Tommy Atkins - Wikimedia Error