In short- WATER. It sounds like you have a situation where your engine's cooling system has been compromised and you have an internal leak. This can also happen if the vehicle has been in high water or submerged.
Change your oil and filter and check your coolant level. Top off the coolant level if it is low. Then, run the vehicle for several miles/minutes. If the creamy white shows back up, you've got an internal coolant leak. If that's the case, it was probably caused by not having enough freeze protection in your coolant and the winter temperatures caused some freezing and an internal rupture or crack.
If it's in a water-cooled engine, like in a car, then it means you've got water in your oil - a bad thing.
You have water in your oil. Possibly from condensation. Run the engine only long enough to warm the oil and change it.
you will notice oily bubbles in antifreeze, and if there is water in your oil it will turn into a creamy caramel color and sometimes even froth into a white lithium grease consistancy
engine burning oil
Blown head gasket
This is most likely a severe failure somewhere internally in the engine that resulted in coolant in the oil. different root causes are probable. oil should be checked regulary (do a oil sampling) after it has been replaced.
headgasket blown.also sometimes a creamy residue on oil filler cap which is a tel tel sign
oil getting by the rings causes white smoke and oil dripping out of the tailpipe.
blue smoke is oil. white smoke is water. black smoke is unburnt fuel
the engine is burning oil. blue smoke oil white smoke antifreeze black smoke excess fuel
when the engine cools moisture in the oil condensates in the oil dipstick tube. Some times changing the PVC valve will solve this. Unless it is severe then dont worry about it
Any vehical which emits white smoke out the back means there is a problem with the engine burning oil. Check the tail pipe to see if it is dripping a mixture of water and oil.