This or maybe a limb pocket. Mine developed a creak during the draw cycle, and it was paint that had worn/chipped off and had settled in the limb pocket, around the hinge pin.
My XLR8 came down with this. I piled every moving part. Turned out to be a limb pocket. Had a few grains of sand in it. I just backed the limb bolt out a little. Sprayed the pocket out with compressed air and tightened her up. Creak gone. Good luck.
Oh, also if it is a Mathews with the glued on grip it could be the grip. I had that happen to an old Mathews from around 2000. Had to reglue and it was good.
As a couple have said already limb pockets are a usual suspect. Lithium grease works well there, also check the axles, bearings should be sealed but can be checked too.
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