The correct spelling of the phrase "am out line" is actually "outline". This word is pronounced as /ˈaʊtlaɪn/ in IPA phonetic transcription. The first syllable "out" sounds like the word "ow" and the second syllable "line" rhymes with "fine". The word "outline" refers to a plan or a summary of a written work that serves as a guide. It is important to use the correct spelling of words to ensure clear communication and avoid confusion.