As the token is created, it checks the printed values of the Spawnwrithe it’s copying — or, if the Spawnwrithe whose ability triggered was itself a token, the original characteristics of that token as stated by the effect that put it onto the battlefield — as well as any copy effects that have been applied to it. It won’t copy counters on the Spawnwrithe, nor will it copy other effects that have changed Spawnwrithe’s power, toughness, types, color, or so on. Normally, this means the token will simply be a Spawnwrithe. But if any copy effects have affected that Spawnwrithe, they’re taken into account.