Not sure they are really "preset." You can adjust the size font to whatever you like - and it can be changed at anytime. I think when I first got it, the fonts and images were set to 2.5, but I change the size depending on the project I am working on at the time. Hope this helped!
Default sizes for Cricut cuts are set at 2.5" but you can adjust the size depending on what you want to cut. I do all of my cutting in the Cricut Craft Room (CCR) because I like the ability to design and save my projects viewing everything on my laptop. Visit Cricut.com to learn more.