Meneldor's second ability can target any permanent you own, including those another player controls.

Once the exiled permanent returns, it's considered a new object with no relation to the object that it was. Auras attached to the exiled permanent will be put into their owners' graveyards. Equipment attached to the exiled permanent will become unattached and remain on the battlefield. Any counters on the exiled permanent will cease to exist.

If a token is exiled this way, it will cease to exist and won't return to the battlefield.