if it's been hot, good possibility that the cylinders are egg-shaped, tapered, worn, and the pistons are trashed as well as the oil rings--all will cause smoke on cold start. Sometimes they'll clear up when hot because the exhaust system gets hot enough to cause the oil smoke to subside, and sometimes as the pistons/rings heat up and the gaps close due to thermal expansion, it'll also reduce oil smoke.
I have seen all of it.
Change oil first, if it clears up fine. If not, prepare to rebuild or replace the engine.