* Produce a loud grinding or clicking noise: This is the sound of the starter motor trying to engage with a flywheel that's already spinning rapidly. This is the most likely outcome.
* Potentially damage the starter motor: Repeatedly doing this could put extra wear and tear on the starter motor components, eventually leading to failure. A single instance is unlikely to cause significant damage.
* Nothing noticeable: In some cases, especially if the starter motor's solenoid is properly designed, the starter might not even engage at all.
In short, it's not good for the starter motor, and the noise will be unpleasant. It's best to avoid doing this.