This is a commonly believed myth, by yours truly included (until recently). But the truth about the name Tellicherry peppercorns is much more mundane.
The term Tellicherry is actually used for the largest and most mature peppercorns; they are grown on the same plant (Piper nigrum) and processed just like "regular" black pepper. They are especially prized in cooking for their citrusy, fruity notes and depth of flavor compared with generic black pepper. Also, some people find the large corns to be more visually appealing, so they sometimes command a price premium. As an aside, the city of Tellicherry is now known as Thalassery.
