Continuity mistake: When Lois and Arthur are sitting at the end of the dock, (before Arthur begins to hear the piercing ringing sound) the position of the bikini lace hanging down Lois' back keeps changing between shots.
Continuity mistake: The water level in the glass that Lex taunts Aquaman with changes levels throughout the scene.
Answer: No, there is no such character in the comics. He's a "meteor-freak" like all the other baddies on the show. The sound has something to do with him vibrating his vocal cords very fast to create a high-pitched squeal.