You can do either. As long as your app is intelligent enough to perform a standard REST authentication and receive the session token. Most, if not all, languages have libraries built-in to handle this easily.
Token authentication can be used, but you generally see that deployed as a service account for static resources (ie other servers) to communicate, and are not meant to change very often. If you are planning on having the credentials for your API cached in the local app long term, then a token may be advisable.
DRF supports both.
-James