Peugeot 806 clicking noise from steering console when driving

Hi, no doubt you have found the answer to your problem by now; but you are right in saying it sounds like the flasher unit clicking. I have the same intermittent problem with my Fiat Ulysse (98). I had smoke coming from the inside of the steeering wheel cowling, and although the indicator stalk still works ok; it occasionally makes a fast clicking sound. To stop it; just push the indicator stalk hard forwards and oscillate the lever up and down half a dozen times. The noise will probably disappear for a while and most likely come back when the outside temperature is high.
The answer is to fit a new s/h indicator / dipswitch assembly and the problem will be solved. The contacts must be fairly minimal inside, causing the plastic to heat up and partially melt. On mine the fast clicking doesn't affect the operation of the indicators.
Hope my comments have been of some help to you!