I have a 2014 Yamaha VX Sport. It has 12 hrs on it. Just noticed today white smoke that disappears quickly Also had some bluish smoke that comes out after starting up. All smoke is showing in the rear

sounds like you sheared the the shaft. If you can spin the turbine by hand than you will need to take it into your service techs to fix it.

Not knowing the age and mileage of the car my answer can only be a general one and as always if you are in any doubt get a good mechanic to look at it. Keep checking both the oil and coolant. The loss could be two separate issues.
You will need to check the smoke in a bit more detail. Does the smoke linger or does in disappear quickly? Thin smoke that disappears quickly is not something you need to worry about unless it gets worse and cold weather makes exhaust fumes more visible.
"White" smoke can actually be one of three colours. White, blue or grey. Get a helper to sit in the car and gently press the accelerator pedal steadily for 2 to 3 seconds then release. Repeat 2 or 3 times. Watch the smoke to see if has a blue or grey tint, or whether it is white. Each colour suggests a different problem. See the photo below.

white smoke indicates a coolant burning problem. most likely a head gasket and when it gets warmed up the expansion of the mating components seals off most of the leak. have a head gasket check done. burning of oil is a bluish colour not white.

If your not overheating or losing coolant, its more than likely engine oil burning. If it is coolant related, possible blown head gasket.

There are few possibilities that can cause such problem.
I recommend you few help links related to your problem.Click the link below and follow the troubleshooting;-----Idles rough and quits when gas pedal is pressed less? http://technoanswers.blogspot.in/2012/01/1999-ford-f-150-idles-rough-and-quits.html-----------
Brake pedal stuck? http://howtobyme.blogspot.in/2012/03/brake-pedal-stuck.html

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Car only starts when gas pedal is pressed? http://technoanswers.blogspot.com/2012/01/car-only-starts-when-gas-pedal-is.html

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Car won't start without hitting the gas pedal? http://schematicsdiagram.blogspot.com/2011/12/car-wont-start-without-hitting-gas.html

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emits whitish bluish smoke and bad fuel smell from exhaust

http://schematicsdiagram.blogspot.com/2011/12/van-emits-whitish-bluish-smoke-and-bad.html

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White smoke and Acrid Smell? http://whoisbyme.blogspot.in/2012/07/white-smoke-and-acrid-smell.html
---------- Car stalls and throws white smoke from exhaust? http://repairhelpcenter.blogspot.com/2012/01/car-stalls-and-throws-white-smoke-from.html

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This will help.
Thanks.

You need to get a better idea of what the smoke is. Is it petrol or diesel? Does the smoke linger or disappear quickly? If it is a small amount that disappears quickly it isn't likely to be a big issue.
If there is a lot of smoke get someone else to help as you reverse it out and try and see what colour the actual smoke is. The colour will give a better clue as to the problem. It could be slightly coloured as blue, black, grey or white. See the attached image for what they could mean.

If it smokes white or bluish smoke on start up then fades away rather quickly it usually means it is ready for new valve guide seals.

sounds like your air to fuel mixture is out of whack on your carb.

Sounds like a head gasket it could be your transmission depending on how dark you smoke is so
Grey=Transmission
White=Head Gasket