When you hear people talk about white smoke, they are generally talking about it coming from the tailpipe. This could mean that you have a bad engine head gasket.
If you're seeing white smoke coming from the engine compartment, then it could be something that is dripping on the exhaust pipe.
It's still possible that it's coolant. The hoses from the radiator go into the engine, so if there is a leak in the hose you could be getting smoke from that.
I would suggest that you have the vehicle looked at. Either way, something is leaking and you should find out what that is before it creates a problem.
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〉 Answered on Aug 21st, 2007 by Lori Johnson, Owner and Instructor at Ladies Start Your Engines