Its blue. could be valve guide seals or valves a little to tight. Worse case oil rings . Get a can of engine restore at auto zone . I used it in my old 53 chevy and it sopped the smoke from the rings.
This^^^^^ Restore comes in a chrome can. It comes in 4, 6 and 8 cylinder sizes. You will need to put a can in at each oil change. I am not a proponent of oil additives, but that's one that really works.
I agree 100% with Oldmanmopar. It looks blue and that's oil. Since it blows smoke hard when you goose it, the rings are probably sticky or worn. Running it may clear it up.