Given a group $G=\langle S\vert R\rangle$, the Cayley graph $\Gamma(S,R)$ assigns each element of $G$ to a vertex of $\Gamma$, assigns each generator $s\in S$ to a color, and assigns an $s$-colored vertex connecting $g$ to $gs$ for $g\in G$ and $s\in S$. Many interesting questions about the group $G$ can be asked/answered by investigating $\Gamma$.
Given a knot diagram of a knot $K$, Reidemeister's theorem shows that the Reidemeister moves generate all knots equivalent to $K$. We can form a graph $\Psi$ considering each planar isotopy of $K$ as a vertex, each of the three Reidemeister moves $\{R_1, R_2, R_3\}$ as generators, and, for all isotopies $k_i$ equivalent to $K$, an $R_j$ colored vertex connecting $k_1$ to $k_2$ if there's an $R_j$ move that converts $k_1$ to $k_2$.
Is there a name for such a "Cayley graph" on knots?
I’m adding a new answer because just today a relevant paper hit the arxiv. Barbensi and Celoria just posted a paper about Reidemeister graphs of knot diagrams. They consider two such graphs, one for knot diagrams in $\Bbb{R}^2$ and one for diagrams in $S^2$.
Their main result is that the isomorphism type of the $S^2$ Reidemeister graph determines the knot up to mirror images. They prove this result holds if we restrict to certain finite subgraphs of the Reidemeister graph.
They explore lots of local properties of the Reidemeister graph as well. I think this is just the type of paper you were looking for.