A throwing disc token is an item that can be received from redeeming a beach party ticket, obtained through activities during the Summer Beach Party or purchased from Flo for 10 RuneCoins, or in 2020 through Oddments Store.
It can be activated to obtain an anti-dragon throwing disc case, destroying the token in the process.
While it is possible for other players to pick up throwing discs and even bank them, they would eventually vanish.
This item was only tradeable on the Grand Exchange while the Summer Beach Party (2015) event was active. Now it can only be traded directly with other players.
After the anti-dragon throwing disc case has been unlocked, activating the token is impossible.
For an exhaustive list of all known sources for this item, see here
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