I was wondering if I could download a font to my iPod touch and use it on my device. Or if it only works on certain devices. Please help!

I think you have to hack the iPhone^©®™ to use other fonts on it...

i also think you have to jailbreak it. BTW, a little googling first never hurts : http://www.google.com/search?q=how+to+install+fonts+on+iphone !