This would be a client edit and a server edit. On the client side, you'd duplicate some token and rename it in itemtypes.dat (which is encrypted, we have

to decrypt that). Be careful when assigning an ID to it, as IDs have ranges for the item type. In addition, you might have to copy the floor item picture for your new token ID. Easiest thing to do would be to just rename an existing item so you don't have to do all of that.
On the server side, you'd add the item to your item types table, or rename the existing one if you replaced an item. Then, when give your character that item to test that the item spawns, adds, and saves correctly. When you click on it, you might get an "unhandled item action" type of error. Find where your source handles item usage and add a handle. Check that the item exists in the player's inventory, remove it, and then add the VIP status. If you want to make the VIP status temporary, you'll need to create a table for that (assuming you can do this if you're developing on a server - else, google is your friend). And that should be it.