Dictionary.com Thesaurus.com

drag queen vs. transvestite

drag queen

[drag kween] / ˈdræg ˌkwin /

noun

Slang.

a performer, typically one who was assigned male at birth, whose act involves a stylized and exaggerated interpretation of femininity that plays with stereotypical gender themes.

transvestite

[trans-ves-tahyt, tranz-] / trænsˈvɛs taɪt, trænz- /

noun

Psychiatry. a person, especially someone assigned male at birth, who assumes the dress and manner usually associated with a different gender.
Older Use: Often Offensive. crossdresser. TV

adjective

Older Use: Often Offensive. being or relating to a person who wears clothing typically worn by members of a different gender.