New noise - any ideas?

[Funk]

E36 328i started making a new noise. Doesn't rise or fall with revs, isn't the radiator fan... Can anyone help?

https://www.youtube.com/watch?v=4OPe0ta9s6Q

[andyiley]

Drive belt, either alternator or a/c.

Possibly bearing on one of the idlers or alternator/a/c/steering pump etc.

Try the squirt test to help narrow it down.