There doesn't seem to be an official term for words made by spelling out the name sounds of an initialism's letters. Twelve years ago today, on 2000-01-06, Lee Daniel Quinn suggested calling this type of word a vocologue, but his attempted neologism doesn't seem to have caught on.
I'd like to see a happier fate for wim 9's acronomatopoeia, suggested in the comments above. I like the cleverness of the portmanteau formation, and it can be reasonably-well understood to mean a word formed by the sounds of an initialism's letter names.
I was able to find only the following 9 common examples of acronomatopoeia:
- Teevee = TV (Television)
- Emcee= MC (Master of ceremonies)
- Deejay= DJ (Disk Jockey)
- Veejay= VJ (video jockey)
- Jaycee= JC (Junior Chamber of Commerce.)
- Jayvee= JV (Junior Varsity)
- Okay = OK (Oll Korrect or Old Kinderhok)
- Kayo= KO (Knock Out)
- Arby's = RB's (Raffel Brothers)