Last year it was one TS for either two snacks
or a little mesh bag. We were on the DxDDP and did it a couple of times. At least we did the 1 TS for 1 CS and 2 snacks. We never did the exchange for the mesh bag. They were behind the counter. We asked to see them, but they were very small, flimsy, and cheap looking, so we didn't want them and chose the two snacks instead.
Who knows what Disney is going to offer this year. Every year it changes. In 2007 you could exchange one TS for one CS and a lanyard with two pins. The first year
free dining was offered, no exchanges of any kind was allowed. If you didn't use your TS credits, you just lost them. Again who knows what the deal will be this year. So far it has changed every year. We've been every year in Sept since free dining was first offered. We just plan to use all of our TS credits on TS.