I'd reckon Trev is on the case here. A fault in the scavenge side of the system results in oil accumulating in the sump, then exiting the breather. Stationary, you get a neat pool of oil, on the move, plenty of blue exhaust smoke, oil all over the chain, rear wheel and you! Standard Plunger breather exit is a small bore pipe from the back of the engine just above the gearbox sprocket, down to a crankcase stud adjacent to the sump plate. Over time, many have been discarded, leaving just a hole (as on later S/A bikes) to lubricate the chain.
Causes range from simply overfilling, that pesky sump ball valve, sump gauze, pick up pipe fault, oil pump problems, oil tank obstruction on the return line.
All covered extensively in previous Forum Posts, a search of "Scavenge" in the Engine Section of the Forum is a good place to start.
Swarfy.