UPDATE: What is this leak?

Yes easy job and cheap part, attached to the valve cover at top of engine on passenger side just under the wire harness. There is aa rubber hose attached to it. It is plastic, so be careful removing/installing, if you overtighten it can crack.

 

It is either this ^^^^^ or a valve cover gasket. The PCV valve is an easier and cheaper fix to try first.

 

http://www.customtacos.com/tech.old/files/05FSM/repair.html

 

Update: Went to the stealership and they said that they could not find where the leak was coming from. Asked me if I noticed a decrease in oil level, if I have seen smoke coming out of the tail pipe, or smelled any burning oil. He said that the next step would be to take the exhaust manifold off and look at it to see if oil is getting into it. I told them I would just watch the leak over time and see if it gets worse. Thoughts on what you guys would do or next step? Does this seem like it might lead down a path to a major job...I mean what does that mean if oil is getting into the exhaust manifold?

 

Why not check the torque on the manifold bolts. Could be an exhaust leak. Loosen the bolts in an even pattern like your lug nuts, then torque them to spec. Shouldn't be much more than 20ft#'s.

 

Just a little help but if you take some sand paper and sand an X pattern on the dipstick check area it makes it easier to read with clean oil in there.

 

Dude, that is an awesome idea.

 

I had the same issue on my 05 2.7l motor, wife kept smelling burning motor oil. Come to find out, it was leaking around the valve cover and dripping down around the exhaust manifold. Suggest to look top side of the exhaust where it's leaking. Probably one or two bolts weren't tightened, when they replaced the valve cover gasket. Do suggest to get a new PCV valve, if it hasn't been replaced. Last option get some dye add it to the oil, it'll stand out late at night as to where it's leaking! http://www.tracerline.com/fluorescent-dyes-dyed-oils-and-oils