When in doubt and you're positive it's not coming from anywhere else, look for leaks in the exhaust, (got black soot? then you got leak), right from the manifold gaskets to every joint, seam and weld on the whole system.
It doesn't even have to be a leak big enough to hear, but just enough to let a blast of fresh cold air into the system during deceleration (particularly while 'engine braking') and from that moment on, it's plops, snorts and crackles out the tailpipe.
It doesn't even have to be a leak big enough to hear, but just enough to let a blast of fresh cold air into the system during deceleration (particularly while 'engine braking') and from that moment on, it's plops, snorts and crackles out the tailpipe.