What is the cause of blue smelly smoke when the engine is cold?

Blue smoke in your exhaust is unmistakeably burning oil. This means that either your piston ring(s) are worn, or the seal(s) on the stem of your valve(s) are leaking. The reason it only happens when the engine is cold is because metal expands when it warms up. After the engine is hot, all the metal has expanded and is sealing properly again. To correct this problem your engine will need to be overhauled (rebuilt) or replaced. This is quite expensive (in the thousands), so the average driver will choose to continue driving the car the way it is. Although not officially recommended by the certified technician, you should be fine driving the car for another year or two, depending on how much you drive. Just make sure you frequently check the oil level and top it off as necessary. Also you will want to start saving for a new vehicle right away because it wont carry on in this condition forever.