VIP Lounge Wristband can be purchased from Cantina Vendors at the Vaiken Spacedock Cantina or is available as part of the Collector's or Digital Deluxe editions of the game. The item gives access to the VIP lounge on Vaiken Spacedock for Imperial players, and Carrick Station for Republic players. It is categorized as a mission item, and will show up as such in the inventory.
While you get access to the lounge after buying this item, you do not get access to the CE vendor, but you do get access to the other vendors in there.
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