The camshaft is a component of the engine that controls the opening and closing of the valves. When the engine is idling, the camshaft is rotating at a low speed. As the engine speed increases, the camshaft rotates at a higher speed. This change in speed can cause the camshaft to make a different noise.
It is normal for the idle speed of a 1985 Corvette to be a little high when it is first started and then idle down low after about 10 seconds. If you are concerned about the noise that the camshaft is making, you should have the car inspected by a qualified mechanic.