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.
belly bell bally bully belay billy belle bel bellow bull bill billowy ball boll bialy belie bulla blowy bluey below bailey bullae billow blooey billie boulle bal blae bail bale bowl blow bola bawl blew boil blue blaw bile buhl baal blah bole bolo
belly felly telly delly shelly kelly welly jelly nelly ell feyly pulley hello belay newly quell rely well gilly jolly billy hilly niello nielli vealy dally paella cully knolly folly cell knell duello hell dilly chilly woolly wholly sell celli tally dually lolly cella sally leally holly mulley rally fully dell silly mell valley jell gully golly colly pally cello eely dully coolly gulley bally relay foully bell tell filly jello fella mealy illy cullay seely sully gally bully allay volley fell alloy molly really selle galley belle shell delay alley lily dolly duelli wally ally willy chally yell