Custom Formatters May 6th, 2014 (updated Aug 16th, 2014) This module lets you take the input from a field and allows using HTML and token replacement (or alternately PHP) for display. Read more about Custom Formatters
Creating custom tokens Apr 9th, 2014 I just read a great article on this that breaks things down very well. You can find the original article here: http://fredparke.com/blog/create-your-own-tokens-drupal-7 Basically, you need to use two hooks. The first one tells the system about your token. The second one contains the specific logic for your token. Read more about Creating custom tokens