UPDATED added a way to block the use of Snapchat – see end of the post
I personally find this should not be on Teams (for Work) but here it is: you can now use Snapchat lenses during a Teams meeting.
A collection of 20+ of the most popular Snapchat Lenses are now available.
To start using the Snapchat effects, join a meeting with your camera on and open the Effects and avatars\More video effects
Then access the Snapchat section to select the lens you want to use
The first time you will have consent the use of Snapchat; you can preview the effect before joining the meeting
If you want to use the lens after joining the meeting, just open the More\Effects and avatars menu and access the Snapchat section
This is only available in the Teams ‘classic’ client; it is not available when using the web interface or the new (in preview) Teams client
While there is no specific settings to enable/disable it, Teams administrators can block the Snapshat Lenses application from the Teams administration portal, under the Teams apps\Manage apps blade and search for Snapchat