This noise is the pipe expanding due to a temperature rise when water is flowing down it. If the noise is from under the floor, I would say the pipe has been fitted very tight to the joists, and the noise you are hearing is the pipe moving against the joists
Only way to be sure is to lift the boards and have a look. Putting and insulating material between the pipe and any joists it touches should help. DO NOT cut too much of the joist away to create space!
John, May 2008