We revisit the static potential for the $Q Q bar Q bar Q$ system using SU(3) lattice simulations, studying both the colour singlets groundstate and first excited state. We consider geometries where the two static quarks and the two anti-quarks are at the corners of rectangles of different sizes. We analyse the transition between a tetraquark system and a two meson system with a two by two correlator matrix. We compare the potentials computed with quenched QCD and with dynamical quarks. We also compare our simulations with the results of previous studies and analyze quantitatively fits of our results with anzatse inspired in the string flip-flop model and in its possible colour excitations.