The corgi, a favourite breed of the monarch's, sat above Buckingham Palace with its tongue out and a bone by its paw.
The effects also portrayed a horse, an outline of a stamp - complete with the Queen's face - and a note saying: "Thank you Ma'am".
Hundreds took to social media to commend the display, which they labelled "magical" and "superb," as part of ongoing Jubilee celebrations.
"There is a giant drone corgi over Buckingham Palace and this is the best country on earth," one user wrote on Twitter.
"Corg' Blimey!" Mayor of London Sadiq Khan tweeted.
Parliamentary sketch writer John Crace said to his followers: "Well the corgi stole the show."
"The planning required ... to make a corgi in the sky is so quintessentially British I'm in awe," a Twitter account wrote.
"I, for one, welcome our new Corgi overlord," tweeted another.
British solicitor Nazir Afzal called the effects "brilliant".
"The rest of the world must think we're bonkers ...," he added.
The show could be seen far and wide as some commented that they could see the effects streets away from Buckingham Palace.
The display was part of a star-studded open-air concert in front of the Palace, its line-up including Sir Rod Stewart, Alicia Keys, Sir Elton John and Lin-Manuel Miranda.
The Platinum Jubilee celebrations have marked 70 years on the throne for the Queen.
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