1.2V / 5R = 240mA, but as the voltage drops, so does the current, so at 1V, the current draw is 200mA and so on.
Assuming 240mA X 1.2V = 0.288W, so a 1W resistor or higher is suitable (1W = extra large version of normal resistor, or use the rectangular white 5/10W versions).
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Make sure your resistor is at least 1 watt or more since it will heat up eventualy the resistance value will drop, otherwise you'll kill the resistor.
BTW rexter, inside standard resistors, resistance actually INCREASES with heat, so there is a self regulating effect there.
(Heat goes up, so resistance increases, and current draw decreases. Because current decreases, it cools down and resistance falls, allowing more current to flow again. etc etc)
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