This is the noise my 2011 F-150 Ecoboost makes when started cold. The noise is the timing chain rattling away because it's stretched.
Learn More Here:
http://www.f150forum.com/f70/2011-eco...
The TSB For The Issue Is: TSB 14-0194
I'm very disappointed in how Ford is treating their customers with this issue. Basically they will not repair it until your motor fails.