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.
wooly woolly wool woolie wholly waly wily wally whole willy welly waylay willowy will wail wall wawl wile waul weel wale well weal
hooly wooly cooly dooly tool noily foley jolly dolly roily poly molly lolly shoaly mool mooley cool coly colly doyly wholly woolly coyly holly coaly holey moly knolly folly holy fool doily pool moola flooey jowly wool golly lowly looey coolly blooey oily shool