What is this buzzing sound playing? I heard this on buzz channel which is an anime channel, and now also in bleach. In episode 2 You can hear it at around 14:00 in this youtube video

Does this sound have a specific name? or is it some sort of soundtrack?
Are you talking about the Tōryanse? A traditional children's song that's commonly used at street crossings to indicate that it's free to cross the street.