party favour vs token

party favour and token both are nouns.

Word	Noun	Adjective	Verb	Adverb
party favour	Yes	No	No	No
token	Yes	Yes	No	No

As nouns, token is a hypernym of party favour; that is, token is a word with a broader meaning than party favour:

party favour: souvenir consisting of a small gift given to a guest at a party
token: something of sentimental value

Other hypernyms of party favour include keepsake, relic, souvenir.

party favour (noun)	token (noun)
souvenir consisting of a small gift given to a guest at a party	a metal or plastic disk that can be redeemed or used in designated slot machines
	something of sentimental value
	an individual instance of a type of symbol
	something serving as a sign of something else

party favour (adjective)	token (adjective)
	insignificantly small; a matter of form only (`tokenish' is informal)