The participle in this sentence is "competing," and its function is to modify the noun "teams."
what does it modify
The participle "competing" modifies the noun "teams." It provides additional information about the teams by describing them as being in a state of competition.
The participle in this sentence is "shook", and its function is to modify the noun "teams", indicating the action performed by the teams.
The participle in this sentence is "shook," which functions as the main verb in the clause "the competing teams shook hands" and indicates the action of the teams shaking hands.