Immature teratomas are a type of germ cell tumor that can occur in various parts of the body, most commonly in the ovaries. They are considered malignant due to the presence of immature, embryonic-like tissues which can grow and spread more aggressively compared to mature teratomas. These tumors contain various types of tissues such as hair, muscle, and bone, but the presence of immature neuroectodermal tissue distinguishes them from their benign counterparts.