The dupe I've found is MUA's matte lipstick in the shade fawn fancy.
The MUA one is £1... Which is £14.50 cheaper than MAC's.
First of all, packing wise, MAC is always a winner with the sleek black bullet packaging. The MUA packaging does look quite cheap and is made of plastic but that doesn't change the lipstick quality.
Onto the colour, they are basically identical. Velvet teddy is just slightly darker, although the pigmentation of them both is the same.
The application of Velvet teddy is slightly smoother, and looks smother on the lips, whereas the MUA one is quite sticky to apply and can cling to dry lips. They both have a very matte finish.
Finally, the staying power of Velvet teddy is much better. It stays on the lips for a few hours, whereas the MUA one only lasts for around half an hour and it starts fading.
Overall, I think the MUA lipstick is a great one to buy first of all to test out the colour (which is what I bought it for) and then go on to buy MAC Velvet teddy.
I hope you all enjoyed this post!