I am finally able to always reproduce this noise. When the car is running, parked, in neutral, and with the parking brake on; I start to turn the steering wheel to the right. As I turn the steering wheel, I will hear a loud clunking noise. Just once as I turn the steering wheels to the extreme right. Then I will start to turn the steering wheel back to the left. As I am turning the wheel left I will eventually hear the same clunking noise (only once) as I am turning the wheel to the extreme left.
The clunking noise will always happen once when turning the steering wheel to the left and then once again as I turn the steering wheel to the right. I am always able to reproduce the noise this way.
What can be causing this noise?