Most obvious, you can do it via the menu bar. Just toggle in the applicable System Preferences panels "Show <Airport/ Bluetooth> status in the menu bar"
Or, you can write yourself an Apple Script application around the below Unix commands and put them in the Dock or launch them via Spotlight.
For the Bluetooth - off:
sudo launchctl unload /System/Library/LaunchDaemons/com.apple.blued.plist
- on:
sudo launchctl load /System/Library/LaunchDaemons/com.apple.blued.plist
For the Wifi - off:
sudo /System/Library/PrivateFrameworks/Apple80211.framework/Versions/Current/Resources/airport -z
- on:
sudo /System/Library/PrivateFrameworks/Apple80211.framework/Versions/Current/Resources/airport -A associate=SSID password=PASSWORD
..if you know the network you want to connect to. Otherwise you may need to write a wrapper script which scans for available networks using the "-s" option and logon to a network which is known to you (..and hence hard coded for the script) or a network without security (the "-s" option will show it).