Token money is like pretending money that we can use to buy things. You know how mommy and daddy use real money to buy things at the store? Well, sometimes, we use pretend money to buy things too. Token money can be in the form of coins or plastic chips that represent a certain amount of real money.
For example, in an arcade or amusement park, we use tokens to play games or go on rides. These tokens don't have any real value outside of the arcade or amusement park but we can use them to exchange for a fun activity. Similarly, sometimes you might get a little plastic coin at school as a reward for doing good work. You can't use these coins to buy something outside of school, but you can use them to get a prize or treat at school.
In summary, token money is not real money, but we can trade it for a specific value or something of fun or reward.