I have used TeamViewer Portable several times, it runs well although with frequent disconnection, however I think that it is caused by the bad internet connection.
Now, I want to use the VPN facility, unfortunately that the software require installation of its driver.
Is there any solution to avoid installing the driver?
Update on 20 September 2011:
My conclusion is: There is no such thing like portable TeamViewer for VPN service.
The discussions below have been about installing TAP driver into the client computer, which is absolutely out of my consideration as a purist in portable software user 
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the thing is, that it will need one kind of full install on one side. The service has to be run there and the driver installed. Then you can access it with your portable teamviewer.
However, I so far did not met this working between w7 computers, if both are xp well it works somehow.
Otto Sykora
Basel, Switzerland
A prerequisite for the use of TeamViewer VPN is that TeamViewer is installed on both sides with the option Use TeamViewer VPN. Accordingly is the VPN driver installed on both PC. For these reasons the VPN option is not available with the portable version of TeamViewer.
I use the vpn now from an usb stick, the pc is new, never had any trace of teamviewer on it, restricted user acc, and it connects the vpn well to other pc which has the TV installed (XP). I am using it that way sometimes, however as I said, I never managed to set up connection to a w7 machine this way, only to all xp and w2k I have access to.
Otto Sykora
Basel, Switzerland
In the TeamViewer Manual Nr. 9.3.2 are exactly described the prerequisites concerning VPN Connection (http://www.teamviewer.com/de/help/index.aspx). Therefore it is required that TeamViewer including the VPN driver is installed on both PC. It could be, that the VPN driver was installed afterwards on the PC with the connected USB flash drive. Have you checked these facts exactly? Do you have also checked, whether it is possible from the PC with the connected USB flash drive, that you can print documents on the shared printer (german translation: freigegebener Drucker) of the remote computer? And do you have also checked, whether it is possible from the PC with the connected USB flash drive, that you can use shared files (german translation: freigegebene Dateien) of the remote computer?
it says in the manual, I was using this few times in recent days and well it takes time and few attempts , but works on my side.
I have all the shered folder the on the explorer and they are all on an IP of 7.98.245.xxx or so.
I have the printer connected and set free on the target computer in my explorer too and could use it, provided I would install the driver on the local printer too, whic I did not so far.
It is brand new w7 starter mini computer, user acc restricted just after first run and no teanviewer installed.
All I run is the one from the usb stick here.
I can use all 3 methods od the TV, the desktop, the file transfer and the vpn.
On the target computer (xp) TV is installed and running.
It takes mostly two or three attempts until the connection is build up, at begining the TV complains about the target not reacgable or so , but after next try all works fine.
I haven o idea if some kind of driver was installed before on this computer, I bought it with original w7 starter on it and some HP stuf as it is HPmini 110.
Personally did not install anything on it except avast and firefox.
Do you know the filename of the drivers so I could search for them ?
Otto Sykora
Basel, Switzerland
Please look in the device manager of your Windows 7 PC. The TeamViewer VPN driver (also called TeamViewer VPN adapter) is of type a network driver. Therefore you should search in the device manager in the section "network adapters" on an entry, which contains the word "TeamViewer". In addition confirms a dialog box during the installation process of TeamViewer once again, that for the use of TeamViewer VPN it is necessary that TeamViewer VPN is installed on all computers involved.
If it is though possible to use a VPN connection without installing the TeamViewer VPN driver on your Windows 7 PC, then it might be possible that you can't use all the features that offers TeamViewer VPN. For example it is not possible to use a shared printer. For that, it is necessary - as you have rightly pointed out above - a printer driver to install on your Windows 7 PC. And this fact is clearly contrary to the portability. In the past I have already used this nice feature. Accordingly, I had to install on my own PC the printer driver of the local printer on the remote computer.