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.
flutey fluty flute flite fluyt flout flued flyte flauta fealty volute folate floaty faulty veloute valuate fallout fellate filiate foliate felt fled flit flat flied filet volte fault filed fleet float fluid flota fowled fueled velate valuta felled filled foiled foaled failed fillet fulled valued vaulty fooled fouled folioed fuelled vallate violate phyllite velleity
flutey fluty dilute slutty salute plutei glutei glute volute veloute vaulty valuate flute lute faulty elute eluate ballute lutea pollute slatey solute toluate