Token creatures, transform

[Birdbrain]

If you made a token of a creature, and that creature could and did transform, it would be exiled right?

[Keyeto]

Nope. It wouldn't be exiled, but nothing would happen. Only permanents represented by double faced cards can transform.

701.25a: Only permanents represented by double-faced cards can transform. (See rule 711, "Double-Faced Cards.") If a spell or ability instructs a player to transform any permanent that isn't represented by a double-faced card, nothing happens.