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While not strictly legal, many teachers work in Thailand without a degree. It is a risk, however, since you'll have to go in on an O-type visa, which is not for work purposes and work without a permit, which many do. At the same time though, there's always the risk that you'll get found out and deported, or that you'll travel all the way there and not find a job.
This is complicated a little by the recent political unrest in the country. While no Westerners have been affected yet, it may be best to sit tight and see what happens after the elections in February. That said, protests have mainly been focused in Bangkok. In short, it certainly would be possible to go, and I know of Westerners that are teaching in Thailand without any problems, but it is something you'd have to think about and carefully research to make an informed decision.
To get started, have a look at our Visas for Thailand, as well as our Education and Schools in Thailand page to find out more about the education system.
Good luck!
Xavier