A queue is a first-in, first-out (FIFO) linear data structure where elements are inserted at the rear of the queue and deleted from the front, with Agner Krarup Erlang applying queueing theory principles to telecommunications; common queue types include deque, circular queue, and priority queue, with priority queues processing elements based on assigned priority levels rather than insertion order. Real-world applications of queues include lines at stores, people on escalators, traffic light patterns, and resource sharing in computer systems like CPU and disk scheduling.