1. Keep it Clean: It might seem like a good idea to throw an obscene joke into the game, but trust me, it never works out. The meaning of the original sentence might be completely changed by the end, but a penis will stay in the thread forever. It gets old fast. Just don't try it.
2. Less is More: Don't make a sentence that involves robot monkeys fighting alien tigers in Norway, because every single picture will be of robot monkeys fighting alien tigers in Norway. If in doubt, write something abstract, like 'the quality of mercy is not strained'. That will create a far more ambiguous picture, and ensure an interesting game.
3. Don't be Smart: I've seen a fair amount of people try to recreate the exact sentence with their picture, by making a little sentence of symbols, or blank spaces for letters. I'm not sure why they do this, it could be they're trying to be clever, trying to break the game, trying to suck the fun from the game, or are just lazy. Any which way, it's stupid, and everyone will hate you afterwards.
4. Go with your Gut: Don't second-guess your first instincts about a picture or sentence, don't try to figure out what the original meaning was, just work with what you have seen. This is how the game gets funny. Of course, this is overruled by rules one and three.
5. Better Late than Never: Take your time working on your pictures. Make them the way you envisioned them. It doesn't matter if you suck at art, just keep plugging away at it and it will work out fine. Don't create deadlines, they just make bad pictures.