Could be loose rear U bolts on the springs too..or worn bushings at the shackles & other end of the spring..
I've had shocks make weird noises ,but not while driving so much,you notice it more shifting from drive to reverse or while parking..
Another thing that can cause it is a dry slip yoke,the splines can make noises,but on an '86 I doubt that is your source,the older models with fixed yoke on the transfer case had the slip yoke made into the drive shaft were the ones that did it,if those don't get greased often they'll rust up and creak & groan..your '86 probably has a NP-208 with a car like slip yoke made into the tail of the T-case...those run in ATF and don't usually give any grief .