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.
blowy blow billowy below billow bellow blooey blaw blew bowl bolo bluey bally belay bylaw belly bully bialy billy blooie bailey bal bel bawl bill bale ball bola blue blah bail buhl bile blae bell bole boil baal bull boll
blowy billowy willowy yellowy tallowy sallowy pillowy low yellow cloy tallow flawy alow fellow wallow jowly lowly flow blow mellow billow hallow ploy slow alloy callow willow follow hollow mallow pillow bellow glow plow below fallow allow sallow shallow