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Serpentine belt and/or serpentine belt tensioner would be my first though. Chances are the belt needs to be replaced, dirt and dust can cause it to slip on the pulleys, resulting in a squealing noise. If the belt tension "shock" is leaking or worn out, it could cause the belt to have too much slack, also leading to a squealing belt noise. The fact that it goes away after the engine warms up, makes the belt/tensioner more likely culprits.
Quick test - spray the belt with water (trigger spray bottle), when the engine is cold. Can be done with the engine running or not, see if the noise temporarily goes away. If it does, you likely have a bad belt. If the noise is still there - you might have something else on your hands.
Other possible culprits - bad accessory (alternator, powersteering) and/or its pulley (bearing is shot somewhere) or faulty idler pulley.
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2002 Corolla S, 1.8L 1ZZ-FE VVT-i
2003 Matrix XRS, 1.8L 2ZZ-GE, VVTL-i (RIP)
2009 Matrix XRS, 2.4L 2AZ-FE VVT-i
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