I've searched all over the forum and I cannot pinpoint what exactly this could be. It only makes that noise during a cold start-up, and not every time but lately its gotten more frequent.

Timing chain/guides are pretty new

88 Toyota Pickup 22re

http://www.youtube.com/watch?v=hJwl9fNiH70

 

sounds like a rocker sticking or valve tell it gets oil

 

make sure you have an oil filter with anti drainback valve or whatever there called

 

I've tried several different oil filters but with the same results, I've used the Toyota OEM filter for awhile, and currently I have a Napa Gold 1348, both filters claim to have an anti-drain-back valve in them.