iPad needs a 5V 1.0A charger. iPhone needs 5V 0.5A. That's why the iPad charger is bigger than the iPhone one. This is also why when you plug an iPad into a PC, which only provides 0.5A per the USB 2.0 spec, it doesn't always charge.
It's OK to plug an iPhone into an iPad charger, but I wouldn't do it the other way around (no harm will come, but it might get a bit warm or not charge the iPad properly).