2000 Toyota Camry Oil Smoke when cold

When cold, after a night sitting in the driveway, on startup it smokes a lot, a significant cloud for about 3 seconds only. Then it runs smoothly without any visible smoke, especially when up at operating temperature.

Also, even at full operating temperature, if you slow down suddenly then go again right away, like stop and go on the expressway, it will puff a blue cloud just for a second or two, then visibly clear again.

Other than the smoke, the engine runs smoothly and with normal power at all times.

I changed the oil and filter, and the PCV valve hoping that would help, but it still smokes like described above.

Have I blown a ring, or worn a valve guide and dropping oil especially when stopped? I was hoping the PCV valve would help or something tune-up oriented like that because I didn't want to spend money for engine work. Can anyone suggest what is causing this?