It's not a query waiting for connection; it's a connection pointer waiting for the timeout to terminate.
It doesn't have an impact on performance. The only thing it's using is a few bytes as every connection does.
The really worst case: It's using one connection of your pool; If you would connect multiple times via console client and just close the client without closing the connection, you could use up all your connections and have to wait for the timeout to be able to connect again... but this is highly unlikely :-)
See MySql Proccesslist filled with "Sleep" Entries leading to "Too many Connections"? and https://dba.stackexchange.com/questions/1558/how-long-is-too-long-for-mysql-connections-to-sleep for more information.