For additional information, consult the Yugipedia entry for Token Monsters HERE.
Tokens are always Normal Monsters.
Tokens CANNOT be flipped face-down.
Tokens cease to exist when removed from the field (no damage is dealt if "Caius the Shadow Monarch's" effect banishes a DARK Token).
Tokens are never treated as being 'sent to the Graveyard / Deck / hand / removed from play'.
Tokens can be Tributed and used to pay costs (unless otherwise specified).
Tokens CAN be treated as Equip Spell Cards by the effect of "Relinquished", but cannot be Summoned from the Spell / Trap Card Zone.
Tokens with "?"ATK/"?"DEF (ex: "Emissary of Darkness Token") affected "Shrink", which changes stats relative to an "original" value, will see their stat line become 0 ATK / 0 DEF [REF].
Tokens are considered owned by the player whose card / effect resulted in their Special Summon, except for "Rose Tokens" (associated with "Black Garden") which are treated as belonging to whichever player's Normal / Special Summon triggered the effect of "Black Garden".