This circuit simulates the sound of an American police siren. IC2 is wired as a low frequency astable that has a cycling period of about 6 seconds. The slowly varying ramp waveform on Cl is fed to pnp emitter follower Ql, and is then used to frequency modulate alarm generator IC1 via R6. IC1 has a natural center frequency of about 800Hz.
Circuit action is such that the alarm output signal starts at a low frequency, rises for 3 seconds to a high frequency, then falls over 3 seconds to a low frequency again, and so on ad infinitum.