What is the difference when creating these two objects
Queue test = new LinkedList();
and
List&
In the both the cases, you are instantiating LinkedList.
The difference is the types of the variables you use to refer to those instances.
test is of type Queue and test2 is of type List. Depending on the type of variable, you only get to invoke the methods which are specified on that particular type. I think this what matters for your situation.
Performance-wise, it's going to be the same, because the actual implementation that you are using in both the cases is same (LinkedList).