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Necessary and sufficient conditions for the existence of the outer inverse of a tensor with the Einstein product are studied. This generalized inverse of a tensor unifies several generalized inverses of tensors introduced recently in the literature, including the weighted Moore-Penrose, the Moore-Penrose, and the Drazin inverses. The outer inverse of a tensor is expressed through the matrix unfolding of a tensor and the tensor folding. This expression is used to find a characterization of the outer inverse through group inverses, establish the behavior of outer inverse under a small perturbation, and show the existence of a full rank factorization of a tensor and obtain the expression of the outer inverse using full rank factorization. The tensor reverse rule of the weighted Moore-Penrose and Moore-Penrose inverses is examined and equivalent conditions are also developed.