Video report by ITV News Arts Editor Nina Nannar
Elvis Costello, 64, and former frontman of The Undertones Feargal Sharkey, 60, are both made OBEs, accepting establishment endorsements far from their punk roots.
Archibald Boyd Tunnock, 86, who created the Tunnock's Teacake in 1956, said he is "deeply honoured" to be knighted, adding: "When you get to my age, very few things surprise you but this certainly did and I am deeply honoured and grateful to Her Majesty the Queen."
Ms Colman, 45, who won the best actress Oscar for her role as Queen Anne in The Favourite earlier this year and will play Queen Elizabeth II in the third series of The Crown, is honoured for services to drama under her real name Sarah Sinclair.
She said: "I'm totally thrilled, delighted and humbled to be in the company of these incredible people, most of whom have been nowhere near as visible as I have, but should be - and hopefully now will be. It's such an honour."
The honours list also recognises those involved with the wave of worldwide success for the British TV industry, with Blue Planet and Planet Earth producer Alistair Fothergill made an OBE.
The same honour goes to Andrew Harries, chief executive and co-founder of Left Bank Pictures - the production firm behind The Crown - for services to film and television.
Richard Williams, boss of Northern Ireland Screen, which is best known for its involvement in the making of Game Of Thrones, is also made an OBE for services to the country's screen industries.
He said: "I am delighted to accept this award, which I see as a celebration of the tremendous value to Northern Ireland from the growth of the screen industries here and also recognition of the part that all my colleagues at Northern Ireland Screen have played in that success story."
Authors Joanna Trollope and Lee Child are made CBEs, while adventurer and television star Bear Grylls, 44, is made an OBE.
The chief Scout, who is recognised for services to young people, the media and charity, said: "This really is a huge honour and it's something, if I'm honest, that I never expected to happen.
"But I really do feel it's a team effort, this award is for every one of those incredible Scout volunteers."
Jack Reacher novelist Child said: "Someone read my books and enjoyed them enough to put my name forward for this great honour, which in itself is all a writer could ask for."
One of Britain's most successful novelists, Sarah Waters, who is famed for her raunchy novels featuring lesbian protagonists, including Tipping The Velvet and Fingersmith, said she is "delighted and a little bit dazed" at being made an OBE for services to literature.
Rapper MIA, real name Mathangi Arulpragasam, and Andrew Roachford, the singer-songwriter behind the band Roachford, are made MBEs for services to music.
Roachford said: "To be recognised for the work you're doing, which is also your passion, from such a high level, is indeed an honour."
Along with the famous names, the list also celebrates the efforts of those working to improve people's lives.
Nimco Ali and Dr Leyla Hussein, who have both dedicated their time to campaigning against female genital mutilation (FGM) after being subjected to the practice as children, are made OBEs.
Some 15 foster carers who have looked after more than 1,000 children between them are made MBEs, while seven Holocaust survivors receive British Empire Medals (BEMs).
The oldest recipient is John Haymen, 100, who receives a BEM for services to the community in Binsted and Alton, Hampshire.
The youngest person honoured is 17-year-old Richard Collins, who is also given a BEM for services to the community in Cookstown, County Tyrone.
The fields of science and medicine are well represented on the list, with Professor Mark Caulfield knighted for services to the 100,000 genomes project.
The Queen Mary University professor said: "I am deeply honoured and thank every one of those who made this possible."
Laura Lee, chief executive of charity Maggie's, is made a dame for services to cancer patients, while Professor Kevin Fong, a television presenter and consultant anaesthetist at University College Hospital, is made an OBE.
Former Network Rail programme director Simon Blanchflower is made a CBE despite last year's controversy surrounding the same honour being awarded to the outgoing head of the organisation, Mark Carne, in the midst of rail disruption.
A Network Rail spokesman said: "Simon has been recognised for two things. His work to build the nuts and bolts of the new Thameslink service - its stations, track and signalling - with the huge transformation of London Bridge as the most visible success.
"His huge efforts and voluntary work in the wake of the Grenfell tragedy was also recognised."
Sara Thornton, former chair of the National Police Chief's Council, said she was "delighted and humbled" to be made a dame, as she led the way in honours for services to policing.
Women's British Open winner Georgia Hall is made an MBE for services to golf, while former QPR manager Chris Ramsay is recognised with the same honour for services to football and diversity in sport.
Ramsay, who has played and coached in every division of the football league, has been a champion for British black and minority ethnic coaches and he said he hopes his award will "open doors for other people".