The basis of this research is really from what I have found by poking my nose around various websites. Not really any formal research, just my own opinion.
So, armed with a theory, I decided to go and see what is involved in making a sound. After reading over a few places, and learning how a WAV file works, I have come up with a simplistic synthesizer application, that I can use to make a variety of different sound effects.
Here is an example sound that you can download. I think it sounds somewhat like a boat idling in the water, but remember, I'm only new at this :).
You can also download the app that I made here. Tell me what you think. (Requires .NET framework)
For those who don't like downloads, this is what it looks like: