I've taken a list of English words, and examined each of them to see what they sound like (using the PHP metaphone function). This page lists the most common metaphone codes, along with their words. You can also search for a word of your own, and see which words sound similar - and which ones rhyme, and which ones alliterate.
babool babel babul babble bauble bible bubal bobble bubale bubble bubbly
babool obole teabowl diobol diabolo cibol reboil oboli obol boil aboil bowl bolo boll bole bola chaebol
baboo baba babe babu baby baubee bawbee bubo baobab haboob cabob kabob nabob