My thoughts are as follows.
If you are burning oil it would likely show as blue smoke from the exhaust and the oil level would drop.
It's possible that the valve stem seals have gone hard, this allows oil to get past the seals. On cold start up this might appear as smoke for a short period.
A more likely explanation might lie in the type of use the bike has, does the engine get up to temperature thus allowing the pugs to self clean, it might be running a tad rich, or the spark could be better.
Just my thoughts.