I have used token rewards as a coach (The black shirt method as mentioned by Lisa but for high school football. If you hustled, listened and did your job you would get a black mesh jersey to wear in practice). When coaching youth soccer and we play sharks and minnows the 1-2 left at the end get to be the sharks. (I am not sure if that is a token reward though)
The school system I work in tries to use token rewards for behavior called RESPECT tickets: a student gets them from a staff member for doing something nice or good. The ticket is turned in for a drawing and people are chosen and get to pick a small prize. The positive aspect of this is : all students who turn in a ticket get a call home about their good action or deed. The negative aspect is: not all staff are on the same page on giving tickets as someone who always helps may not get a ticket and someone who is perpetual gets a ticket for doing something they should normally be doing which has caused some complaining of fairness by the students.