When asked if he'd like to be called "Sir Ringo" going forward, the drummer said, "I don't know yet".
McCartney was knighted in 1997, but Starr was said to "have given up all hope" of his own knighthood until he received a letter from the Palace a year ago, says The Sun.
Rock and roll was still viewed with suspicion by the establishment and several previous honourees returned their medals in disgust.
Joking aside, Starr, who attended the ceremony with his wife Barbara Bach, admitted he felt a little lost without his bandmates at Buckingham Palace. He used his real name Richard Starkey for the big event. "It's new and I don't know how you use this (title) properly". Then, he told one BBC reporter, "But I expect you to use it". However, he said Sir Paul gave him some advice last week: "Keep smiling". There was even some levity, with the drummer declaring, "I'll be wearing it at breakfast!" after receiving his medal.