1995 pokemon trainer cards worth money 25+ Most Valuable Pokémon Every Needs Switch #95 Prices | Pokemon

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If the copied creature was copying something else, the token enters the battlefield as whatever that creature was copying

Cobalion Abilities: Cobalion employs powerful moves such as Sacred Sword, a slashing attack that bypasses defensive effects, and Iron Head, which may cause flinching

And, once its your turn again, you should be able to evolve that Pokmon to its Stage 2 from your hand, as it was already in play at the start of your turn (source: Pokmon Rulings Compendium)