Occasionally when I start my 95 f150 5 litre, antifreeze drips out the holes in the muffler. There is no antifreeze in the oil. Could this be a head gasket?

 

Is it antifreeze or just water? Water would most likely just be moisture from inside the exhaust pipes. You can pull the spark plugs and inspect them for signs of a bad head gasket. The affected cylinders will have cleaner plugs than the others or will have powdery white deposits on them.

 

Definitely antifreeze dripping from the muffler.

 

Started it today and no antifreeze is dripping. Could it be coming from anywhere else but head gaskets. I'm trying to be optimistic here. I haven't checked the plugs yet.