too much oil in an engine and blue smoke?

My last car did that. The idea is that it burns oil, so make sure you keep a close eye on the oil level. You may have to put in a lot. You could have the engine rebuilt, $$$$$$$$$$ or you could just spend a few dollars on more oil. As far as the level right now, I can't see your dipstick clearly enough in the picture.

If you only see it at start up then it's probably warn valve guides.

That's nice. Did you want to ask a question while you're here?

No, it is an old Toyota and they all burn oil...

What makes you think there is too much oil? Anyhow a puff of smoke on startup is quite normal on those 2.4 Toyotas. My Camry did that for years it finally blew at 192,000 miles, the head bolts in the 01-05 didn't have enough threading in the block during those years and could pull out. a know problem. It was QUITE reliable up till then.

If it starts at smokes at startup only it's not burning oil. Worn engines show blue smoke when hot.