I think that a "completion token" that recognizes the effort that was taken is a good thing, but a trophy? I think something small is best; my own experience is with pins or engraved necklace charms, which can make a nice (small!) framed "career history" if the person really had to work hard to get it accomplished. Also, as they are metal, they give a sense of permanence that you don't get with most pieces of paper or ribbons.
In my DD's sport, medals are the standard prize for top scorers, so we don't give them for participation. This particular sport is dominated by a few teams on the national level (they are now such powerhouses that people move where they are if they make the team), so everyone else basically settles for measuring success by national ranking. They do also have team jackets, and there are markings on the jackets that also *subtlety* indicate successes. (Honestly, these are used more to intimidate opponents rather than to be an award an athlete can show off, but the kids are fiercely proud of those jackets. The markings are kind of a code, so people on the street don't know what they mean, but other athletes in the sport sure do.)
A few competitions give trophies, but to teams, not to individuals. Many of them, in the same style as the Stanley Cup, are engraved with the name of that year's winner, and then passed on; those are the really great ones; where it becomes a public historical display.
FWIW, I'm going to give a little shout-out to a small business here, someone who has created a very fun little thing that is super-popular with our athletes, and they do them for other sports as well, and occasions like graduations. It's a small beaded wire charm about 2 inches long, that makes the figure of a person. They replicate a facsimile of the team uniform, and then add a face and general hairstyle to make it look enough like the person that it's a rough facsimile; kind of like a tiny puppet. Some kids put them on their bags or keychains, others have them framed in career sets. They are hand-made, so a bit expensive to give out to whole teams unless done as a fundraiser, but at about $20 each they seem reasonable to us as a memento of the effort of an entire year. The name of the company is Curly Girlz. (I won't post a link because that would be more like marketing. I have no affiliation with the company; I just know their product is a keepsake my kid actually treasures, and as it's a wee bit like a cartoon, they make all of us smile.)