When standing in just random spots around my world, me and my friends can all hear the same water sound. almost like a swimming noise? but the volume on it is exTREMELY loud and completely unbearable. Didn't know if there was a specific reason i'm hearing it or if there was a volume setting to turn it off.
FIGURED IT OUT (At least for my specific case)
Was in my underground base, kept hearing it and went to the surface. Saw a school of fish and tried killing them all, and the sound disappeared completely.