[proofplan]
We represent an arbitrary point of $\mathbb{P}^1(\mathbb{Q})$ by a primitive integer vector $(a,c) \in \mathbb{Z}^2$. The coprimality condition gives integers completing $(a,c)$ to a unimodular matrix. That matrix lies in $SL_2(\mathbb{Z})$ and sends $\infty=[1:0]$ to $[a:c]$, proving that every rational projective point is in the same orbit.
[/proofplan]
[step:Represent the projective point by a primitive integer vector]
Let $p \in \mathbb{P}^1(\mathbb{Q})$ be arbitrary. Choose homogeneous coordinates
\begin{align*}
p = [r:s]
\end{align*}
with $r,s \in \mathbb{Q}$ not both zero. Multiplying both coordinates by a common nonzero integer, choose $a,c \in \mathbb{Z}$ not both zero such that
\begin{align*}
p = [a:c].
\end{align*}
Dividing $a$ and $c$ by their positive greatest common divisor, we may assume
\begin{align*}
\gcd(a,c)=1.
\end{align*}
Thus every point of $\mathbb{P}^1(\mathbb{Q})$ has a representative $[a:c]$ with $(a,c) \in \mathbb{Z}^2$ primitive.
[/step]
[step:Complete the primitive vector to a unimodular matrix]
By Bezout's identity applied to the coprime integers $a$ and $c$, there exist integers $u,v \in \mathbb{Z}$ such that
\begin{align*}
au + cv = 1.
\end{align*}
Define $d := u$ and $b := -v$. Then
\begin{align*}
ad - bc = au - b c = au + cv = 1.
\end{align*}
Therefore the matrix
\begin{align*}
M :=
\begin{pmatrix}
a & b \\
c & d
\end{pmatrix}
\end{align*}
has integer entries and determinant $1$, so $M \in SL_2(\mathbb{Z})$.
[guided]
The goal is to find an element of $SL_2(\mathbb{Z})$ whose first column is the primitive vector $(a,c)$. The determinant condition for a matrix
\begin{align*}
M =
\begin{pmatrix}
a & b \\
c & d
\end{pmatrix}
\end{align*}
is precisely
\begin{align*}
\det M = ad - bc.
\end{align*}
Because $\gcd(a,c)=1$, Bezout's identity applies to the pair of integers $a$ and $c$. It states that the integer linear combinations of $a$ and $c$ contain $1$, so there exist $u,v \in \mathbb{Z}$ satisfying
\begin{align*}
au + cv = 1.
\end{align*}
Set $d := u$ and $b := -v$. Then
\begin{align*}
ad - bc = au - (-v)c = au + cv = 1.
\end{align*}
Thus $M$ has integer entries and determinant $1$, so $M \in SL_2(\mathbb{Z})$.
[/guided]
[/step]
[step:Send $\infty$ to the chosen rational projective point]
Let $\infty := [1:0] \in \mathbb{P}^1(\mathbb{Q})$. By the defining action of $SL_2(\mathbb{Z})$ on homogeneous coordinates,
\begin{align*}
M \cdot \infty
&=
\begin{pmatrix}
a & b \\
c & d
\end{pmatrix}
\cdot [1:0] \\
&= [a\cdot 1 + b\cdot 0 : c\cdot 1 + d\cdot 0] \\
&= [a:c] \\
&= p.
\end{align*}
Since $p \in \mathbb{P}^1(\mathbb{Q})$ was arbitrary, every point of $\mathbb{P}^1(\mathbb{Q})$ lies in the $SL_2(\mathbb{Z})$-orbit of $\infty$. Hence the action is transitive.
[/step]
[step:Identify the single cusp]
By definition, the cusps of the full modular group are the orbits of $SL_2(\mathbb{Z})$ on $\mathbb{P}^1(\mathbb{Q})$. The transitivity just proved says that there is exactly one such orbit, namely
\begin{align*}
SL_2(\mathbb{Z}) \cdot \infty = \mathbb{P}^1(\mathbb{Q}).
\end{align*}
Therefore $SL_2(\mathbb{Z}) \backslash \mathbb{P}^1(\mathbb{Q})$ has one element, and the full modular group has exactly one cusp.
[/step]