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.
colony colon colone coloni clon clone clown colin colleen cullion clan clean cline gluon callan gallon kaolin cauline galleon galloon kaoline
felony colony felon bullion billon boloney baloney belon ballon balloon luny alone aloin clown colone clon liny lion galleon galloon melon mullion pelon pleon reloan saloon solon talion chalone hellion flown billion looney violone loan phylon lown eloin blown bouillon halon loin loony jillion lone loon colon clone coloni cullion gallon gluon million nylon pillion pylon salon solion zillion talon shalloon
col calo coyly coulee cloy coal coala coaly coil cola cole collie colly coly cool coolie coolly cooly cowl kolo