The key signature indicates that Killer Queen is in E flat major.
Despite this, the song's first chord is actually C minor (the relative minor) which makes the key of the song a bit unclear at the beginning. At bar 6 (0'10) the chord goes from a B flat 7 (dominant 7th) to an E flat which is a perfect cadence on the words "Marie Antoinette".
The harmony in this song is very complex (See Harmony) and often moves in progressions that follow the circle of 5ths. This can often make the key of the music difficult to figure out.
There are two regular points in the song where the music stops on the chord of B flat (dominant). As listeners we expect this to resolve in a nice, satisfying perfect cadence to the tonic of E flat but that is not how Freddie Mercury composed the song:
At bar 12 (0'22) the music goes from Bb to a G7 on the word, "caviar".
At bar 20 (0'38) the music goes from Bb to a chord of A on the word, "recommended".
Both of these chord changes are unexpected in relation to the tonality and give the song its sense of uniqueness and unpredictability. This helps to illustrate the song's frivolous character effectively.
As if to resolve all of this, the song has a very conclusive perfect cadence at the very end (bar 81, 2'33) which settles the harmony in a very pleasing way as the music fades out.
There are no modulations in the song.
"Tiny Dancer" is a song composed by Elton John, released in 1972. The lyrics were written by Bernie Taupin and depict a character from Los Angeles. Unlike Killer Queen, you could argue that the song portrays this character with a greater degree of fondness, emotion and perhaps nostalgia. To a great extent, the slow tempo has a big effect on this. In contrast, Killer Queen is more playful and high-spirited.
In terms of tonality, "Tiny Dancer" is also in a major key (C major) and this is very clear at the beginning of the song where the chords alternate between the chord of C and F with regular perfect cadences (1'05 when the bass and drums comes in is a very clear example). This gives a more settled feeling which helps to portray the mood of the song and character very effectively.
At 2'12 there is a sudden modulation which is unexpected taking the music to a chord of Ab, which is not diatonic within the key of C. This is surprising and provides a relentless drive to the music. At 2'26 the music reintroduces a G chord (first inversion with B in the bass) on the lyric "softly". This "pulls" the music back on track, to the tonic key of C major for a euphoric chorus at 2'33.
The calming verse and turbulent pre-chorus, largely achieved through harmony and tonality, are really contrasting in this song and help to depict the character with a lot of poignancy.
C F/C C F/C
C F/C C F/C
Blue jean baby, L.A. lady
C F/A G/B
Seamstress for the band
C F/C C F/C
Pretty eyed, pirate smile
C F/A G
You'll marry a music man
F Em Am D
Ballerina, you must have seen her
Dm7 E7 Am G
Dancing in the sand
C F/C C F/C
Now she's in me, always with me
C G F Em Dm
Tiny dancer in my hand
Jesus freaks, out in the street
Handing out tickets for God
Turning back, she just laughs
The boulevard is not that bad
Piano man, he makes his stand
In the auditorium
Looking on, she sings the song
The words she knows, the tune she hums
Ab Bb
But oh how it feels so real
Gm Cm
Lying her, with no one near
Ab Bb
Where only you, and you can hear me
G/B
When I say softly
G/D
Slowly
F C/E Dm7
Hold me closer Tiny Dancer
F C/E G/A
Count the headlights on the highway
F C/E Dm7
Lay me down in sheets of linen
F C/E G/A
You had a busy day today