Resistive works fine as long as you use a resistor rated for enough wattage. That's a nice resistive load, the friendliest kind
Whether a resistor will work for you largely depends on the voltage you want to end up with at the fan and the amperage of the fan. As a
very crude example, if you want to have 7V for the fan you have to take the 12V rail and get rid of 5V of it. Let's say the fan is rated at 0.24 amps, that's reasonable for a noisy-but-sane generic computer fan.
To get wattage we take voltage (5V is being consumed/dropped by the resistor) and multiply by amperage (the 0.24a fan rating), giving us 5 * 0.24 = 1.2 watts. If you use a "standard" 1/4w resistor it's going to get hot, smell bad, char, smell really bad, smoke and smell bloody horrible, and then eventually die. A good rule of thumb is to use a resistor rated for 2x the actual load, so we want a 2.4w resistor. Odds are you'll need to round up to a 3w or 5w resistor. These aren't cheap like the lower ratings, but they don't cost too much. A buck or two maybe.
Now like I said this is a crude example, in reality a fan that draws 0.24a at 12V will draw less at 7V, and who knows what your fan is rated at (your fan does though, it should be printed on the hub sticker. If it is rated in watts divide by 12 to get amps), but it'll aim you in the right direction.
To choose a resistor to drop a given voltage, find out what the fan is rated for first, 0.24a in my example above.
Then figure out how much voltage you want to drop, 5V above.
Then take voltage and divide by amperage, this gives you the resistance in ohms. 5 / 0.24 = 20.83ohms. Your odds of finding a 20.8 ohm resistor are low (for a decent price, anyway), so round up, 22Ohm out to work.
If you want to run at 10v and have a 0.2 amp fan, 2V drop / 0.2 amps = 10 ohms, and 2V * 0.2A = 0.4 watts, so a 1 watt resistor would be great.
Alternatively a PWM fan will accept a very low power signal for speed control, and do it rather more efficiently.