a song by Elton John
Ross: I have to say Tupolo Honey by Van Morrison.
Rachel: Nooo Way! The most romantic song ever is The Way We Were.
Phoebe: See, I-I think that one that Elton John wrote for, um, that guy on Who's The Boss.
Rachel: What song was that, Pheebs?
Phoebe: (singing) Hold me close, young Tony Dan-za.

They are talking about the most romantic song.
My questions are:
1. Tupolo Honey is a real song sung by Van Morrison, right?
2. I know phoebe is being weird again coz the audience laughs at her, but i don’t know why. 'Who's The Boss' is an american TV sitcom, right? .did Elton John really write a song for this TV ? Coz it seems like Rachel hasn’t heard of this song. 3. When phoebe starts to sing “hold me close, , young Tony Dan-za.” the audience starts to laugh like crazy, Ross and rachel look at her like she’s toooo weird.

Question

a song by  Elton John
Ross: I have to say Tupolo Honey by Van Morrison.
Rachel: Nooo Way! The most romantic song ever is The Way We Were.
Phoebe: See, I-I think that one that Elton John wrote for, um, that guy on Who's The Boss.
Rachel: What song was that, Pheebs?
Phoebe: (singing) Hold me close, young Tony Dan-za.

They are talking about the most romantic song. 
My questions are:
 1. Tupolo Honey is a real song sung by Van Morrison, right?
2. I know phoebe is being weird again coz the audience laughs at her, but i don’t know why.  'Who's The Boss' is an american TV sitcom, right?  .did Elton John really write a song for this TV ? Coz it seems like Rachel hasn’t heard of this song. 3. When phoebe starts to sing “hold me close, , young Tony Dan-za.” the audience starts to laugh like crazy, Ross and rachel look at her like she’s toooo weird.

Answer

"Tupelo Honey" is a song by Van Morrison
"The Way We Were" is a song by Barbra Streisand.

"Tiny Dancer" is a song by Elton John. The chorus features the line "Hold me closer, tiny dancer."

"Who's The Boss?" is an American sitcom that starred actor Tony Danza. As far as I know, Elton John did not write a song for this show. Phoebe misheard the line:
"Hold me closer, tiny dancer," 
as
"Hold me close, young Tony Danza."

The audience is laughing at the absurdity of the mistake. 
(Plus, Phoebe really is pretty weird. :)

Answer

Hi Angela. I'm not sure about number 1, but I can answer 2 and 3. "Who's the Boss" was a popular sitcom a really long time ago (when I was young!), and Tony Danza was the star. No, Elton John did not write a song about Tony Danza or the tv show. The real song is "Tiny Dancer." The characters and audience react to Phoebe that way because it's silly that she believes the title is about Tony Danza, even though the song title and his name sound similar. By the way, I love the show Friends :)

Answer

Tupelo (not Tupolo) is a Van Morrison Song.

The Elton John song is actually "Tiny Dancer" and not "Tony Danza" who is an American actor.  That's the joke here.