My 95 tracker 16v runs perfect but over the last year it picked up a nasty new habit.  Smoking.

Thankfully it's nothing major like burning oil, and it ONLY does it one time.  When i first start it up from a cold start.  No backfire, or strange sounds or vibrations, the car sounds and runs fine.  Just one decent sized puff of white smoke comes out and that's it.  Anyone know what that could be?

I don't think it's hurting anything but, it can be just a little embarrassing when i get out of work and start it up in the parking structure.  And really I can't be sure it's nothing bad, so i thought i better consult with my fellow Zuki members

My brothers was doing this.  He put some seafoam in the oil and it hasn't done it since.  He figured it if it needed the rings replaced anyway then some oil treatment wouldn't hurt much at all. 

sounds like valve stem seals.
they will still be passing some oil while running, but not enough to notice thru the exhaust(yet).
when it sits for a while the oil seeps thru to the cylinders for a nice burn on start-up.

i think.

Mine does the same thing! It was really bad so I put some engine restorer in it, it took a while but it helped. I then put a half of can of seafoam it cut it in half it 50 miles. If mine idles a lot it will leave a little trail of smoke too but it still runs decent! I wouldn't worry about it.

Mine does it too.  I am pretty sure it is the valve stem seals.  But it only does it at startup after it has been sitting and clears up almost immediately.  So I haven't bothered to replace them.

mine does it too and has for about a year and a half.  sounds like its a common problem. 

I have two that do it too, it is just easier to watch it for a second then to fix it permanently. "If it ain't broke don't fix it" that's what my old man says. I believe it is valve stem seals not that expensive either they are about $1-$3 each depending on where you get them.