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I have the same problem. I have a 03 boxster as well. It doesn't seem to be a serious issue since it's not setting off any light on the dash. It only happens at idle...or at least that's the only time I can hear it. It sounds as if the exhaust pipes are cooling down and the metal is contracting...but that's not the case since it goes way when I turn the car off.
Most have told me its bad cats but it just passed emissions so I don't think that's the problem. I just got my extended warranty so I'll take it in soon. To me, it's not a big deal. Hopefully someone had this issue in the past.
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