The token copies exactly what was printed on the original creature and nothing else (unless that creature is copying something else or is a token; see below). It doesn't copy whether that creature is tapped or untapped, whether it has any counters on it or Auras and Equipment attached to it, or any non-copy effects that have changed its power, toughness, types, color, or so on.

If the copied creature has {X} in its mana cost, X is considered to be 0.

If the copied creature is a token, the token that's created copies the original characteristics of that token as stated by the effect that created the token.

If the copied creature is copying something else (for example, if the copied creature is an Evil Twin), then the token enters the battlefield as whatever that creature copied.

Any enters-the-battlefield abilities of the copied creature will trigger when the token enters the battlefield. Any "as [this creature] enters the battlefield" or "[this creature] enters the battlefield with" abilities of the chosen creature will also work.