White smoke could also indicate a blown head gasket. That would be bad.

Make sure you don't have any oil in your expansion tank (coolant). Make sure you don't have any white or yellow gunk on your oil cap. Make sure you aren't overheating.

In the case of a blown head gasket, the white "smoke" is actually water vapor from your coolant entering into the engine exhaust. The fact that it's got a hint of blue means Tomguy's probably got it right. Still, it's best to check the obvious and easy to ID things first.

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Love driving my '77 450 SEL!
124,000 miles