I saw this on Hedgewytch's tumblr, who seems to have taken it in turn from a long line of pass-the-parcel.
I've read in the past some angst-ridden debates online about what's the "correct" font to use in submissions, so I copied this helpful guide here. You might need to click the image to read it.
Times New Roman 12 point seems to be the standard, by the way, but as far as I know, editors couldn't care less what font we use. I may test this theory by doing my next submission in Comic Sans.