This contains a recording of a stream: “Stream, Water, C.wav” by InspectorJ (www.jshaw.co.uk) of Freesound.org.
The stream is granularly distorted and played alongside a tune and percussion mangled through several chains of plugins including ring modulation, VocalSynth2, AudioThing Speaker and Valves, amongst others, plus bandpass filtered to allow only “telephone” frequencies and set to mono.
I had intended to base the on-hold music on pitch-to-MIDI of the babbling stream recording but that proved even more unmusical than the end result.
Of course if I was going for realism, the track would be well over 40 minutes long. You have been spared!
Amusingly, I probably spent more time modeling the cover art, for this one, than the composition/processing.