Piston Slap, per Deer Slayers question:
Most cars will eventually develop piston slap. It can often also be heard in new cars at startup in cold temperatures.
You will be able to identify it for about 4 blocks after a 0 degree start - assuming you do not warm the car up first.
It sounds like lifter noise, a light rapid clicking sound. This is caused by the rod angularity, during compression the rod is on one side, pushing the piston to one side. Then, after top dead center the rod angle is on the other side and the piston snaps to the other side, making a light ticking sound.
Which is which: Lifter noise - although the frequency rises and falls with throttle application - remains at the same intensity.
Piston slap becomes much more pronounced at large throttle openings due to the increased force.
Since piston clearance decreases rapidly as the engine warms up piston slap disappears usually in the first few blocks of driving.
At one time we only heard it in old, loose cars. With very short piston skirts (read lighter pistons, greater fuel economy)
new engines demonstrate it more. GM V8s in recent year have been the subject of lots of consumer complaints, yet they are still long lived engines.
When you get lots of bore wear, at very high mileage, piston slap becomes quite loud - getting quieter after warmup but never totally going away. At that point the engine is probably burning lots of oil, the compression is probably shot and the engine need rebored!
OK, thats a lot about piston slap, others feel free to add more.
Since I have often driven cars all the way to an overhaul...
by that time the clicking has turned to clattering, and cold startup noise sounds almost like a diesel.