Option (1) - using a 2005+ Tacoma bumper - isn't very practical. The 2005+ Tacomas are about 4" wider than the 1995.5 - 2004 Tacos overall. The rear end frame rail layout and dimensions are also different. The pre-2005 rearmost frame rails are actually more than four inches farther apart than the 2005+ ones (39.13" versus 34.8").
Even if you get the overall width and the mounting locations stuff customized for the transplant, there will be the even bigger issue of how to modify your pre-2005 Taco's rear body work to blend with the 2005+ wraparound ends.
By the time you do the custom body and remodeling work to make everything fit up, this would probably end up being the most expensive option.
Even if you get the overall width and the mounting locations stuff customized for the transplant, there will be the even bigger issue of how to modify your pre-2005 Taco's rear body work to blend with the 2005+ wraparound ends.
By the time you do the custom body and remodeling work to make everything fit up, this would probably end up being the most expensive option.