peal out

from the GNU version of the Collaborative International Dictionary of English.

• intransitive verb To give off a loud pealing sound; to peal.
• intransitive verb slang To accelerate quickly from a stop in a vehicle, especially an automobile, so that the tires grind against the pavement and make a squealing noise while accelerating; -- sometimes performed by young drivers for showy display.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• verb intransitive To make a loud sound
• verb transitive To cause (a bell) to make a loud sound