Viva la Vida
A token is a little piece of magic that you can carry around with you that can do all kinds of cool little things. They can give you bonuses to dice rolls, help you out in bad spots, or even do some really weird things, if you want them to.
Generally speaking, tokens are either acquired (sometimes as a result of a pledge) or created. A lot of changelings come back from the Hedge with tokens because they made them while they were wandering around in the thorns. It’s not all that hard to make a token when you finally figure out what you want it to do—just take a couple real things, a couple of concepts, and invest some magic and you’re done. I’d talk to the Storyteller before making any, though—most of them require some sort of Crafts roll.
It’s much easier to acquire a token than create one, and usually the ones that you’ll get from other people are better than those you’d make (unless you’re Adarin, that is).