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.
ploy ply paly plow poly pily play polo pillowy pally polio pulley pillow pal pul pol plie pull peal peel pale poll pole pili pial pule pail pool puli pawl plew pula pall pill pele pile plea palea pilau pilaw pilea pilei poilu