When Felidar Guardian enters the battlefield, you may exile another target permanent you control, then return that card to the battlefield under its owner's control.
After the permanent returns to the battlefield, it will be a new object with no connection to the permanent that was exiled. It won’t have any additional abilities it may have had when it was exiled. Any +1/+1 counters on it or Auras attached to it are removed, and any Equipment will no longer be attached.
If a creature token is exiled this way, it will cease to exist and will not return to the battlefield.