If you particularly heard this sound effect on few or some episodes (when Timmy is doing something in slow motion, particularly the action scene Odd, Odd West), you might heard that one.
It is also used by other productions (also by other companies) as well. In order to identify the sound effect, search using this website using the word "slow motion".
Although it doesn't resemble bullet time scene from The Matrix, it does sound like metal colliding a metal.