Here's what ICAO has to say. The US standards are generally less stringent, but technically for international flight, ICAO rules prevail.
4.2 Heavier-than-air aircraft
4.2.1 Wings. The height of the marks on the wings of
heavier-than-air aircraft shall be at least 50 centimetres.
4.2.2 Fuselage (or equivalent structure) and vertical tail
surfaces. The height of the marks on the fuselage (or
equivalent structure) and on the vertical tail surfaces of
heavier-than-air aircraft shall be at least 30 centimetres.
4.2.3 Special cases. If a heavier-than-air aircraft does not
possess parts corresponding to those mentioned in 4.2.1 and
4.2.2, the measurements of the marks shall be such that the
aircraft can be identified readily. (italics mine)
5. TYPE OF CHARACTERS FOR NATIONALITY,
COMMON AND REGISTRATION MARKS
5.1 The letters shall be capital letters in Roman characters
without ornamentation. Numbers shall be Arabic numbers
without ornamentation.
5.2 The width of each character (except the letter I and
the number 1) and the length of hyphens shall be two-thirds of
the height of a character.
5.3 The characters and hyphens shall be formed by solid
lines and shall be of a colour contrasting clearly with the background.
The thickness of the lines shall be one-sixth of the
height of a character.
5.4 Each character shall be separated from that which it
immediately precedes or follows, by a space of not less than
one-quarter of a character width. A hyphen shall be regarded
as a character for this purpose.
Go nuts!
Vern