Principal English Translation: 

suffix indicating the thing worthy of the verbal action, the thing receiving the action of the preceding verb, or with which it is being done (hence, the latter can be attached to words for certain tools) (see attestations)

Attestations from sources in English: 

Similar to the English-language suffixes:
e.g.: something admirable (that which is admired), something edible (that which can be eaten), etc.
Examples in Nahuatl:
chiyaloni, chiyeloni = that which is waited for or expected
pialoni = that which is guarded, kept

Example of a tool:
apozoniloni = a tool for mixing cacao or chocolate

ontentli in pialonj, in neiollotilonj, in concauhtiaque = two words worthy of being guarded, worthy of being remembered, which they left as they went (central Mexico, sixteenth century)
Fr. Bernardino de Sahagún, Florentine Codex: General History of the Things of New Spain; Book 6 -- Rhetoric and Moral Philosophy, No. 14, Part 7, eds. and transl. Arthur J. O. Anderson and Charles E. Dibble (Santa Fe and Salt Lake City: School of American Research and the University of Utah, 1961), 91.

Attestations from sources in Spanish: 

totollcohualloni XX p[es]os = Se gastó en guajolotes 20 pesos (Hidalgo, late sixteenth century)
Christina Bosque Cantón, La pintura de Tecpatepec: Un códice de quejas contra un corregidor (Zinacantepec: El Colegio Mexiquense, 2019), 75.