You get home at 2pm? Wow, I usually got home at 4pm, if not 6pm. X_x
And I usually wake up at 6:00 too.
There was a competition for it, so obviously somene thought it was a good thing, and besides, it's just a day, it's an opportunity, I'm sure loads of others are jeleous, take it.

Anyways, why did you write the paper if you didn't want to do it?
Trust me, it's one of those things that you won't want to do when you have the chance, and then wish you did when it's too late.
Who cares what the teacher's say, use it as an excuse, claim you're giving free detentions and taking away homework, start taking bribes, have fun.
But if it's one of those things which teachers considerer "fun", and it's realy lame and you hate it, as does everyone else, as mitsur said, just appoint someone else.
I mean, you don't have to take this principal for a day thing serirously.
Anyways, you're European right? I'm guessing by the school times, I did an exchange there, and school was realy different, and seemed to struggle realy hard on it, so maybe work is a realy big thing over here, in my life, I always manage to find time for free time/ work/ sport every day. So yeah, maybe I can't help you.