You don't say what model it is but I will take a guess that it is the 2.0 16v petrol engine.
Hydraulic tappets.
If the engine oil and filter haven't been changed recently I'd try that first. Use the correct oil and a Peugeot filter, not a cheap aftermarket one.
If it doesn't improve, or it's a different engine, ask again.
ChicksFan
December 2009