Given the adjacency matrix $\mathbf{A}$ for a simple connected graph, the characteristic polynomial is defined as: $$ p(\lambda) = \det(\lambda \mathbf{I} - \mathbf{A})$$
Now if an edge between vertex $i$ and $j$ is "labelled" with another variable $x$, then we could consider a bivariate polynomial:
$$ f(\lambda,x) = \det(\lambda \mathbf{I} + x (\mathbf{e}_{ij}+\mathbf{e}_{ji}) - \mathbf{A})$$
where $\mathbf{e}_{ij}$ is the matrix with all entries zero except row $i$, column $j$, which is 1.
Or similarly, if the vertex $i$ was labelled with the variable $x$, we could consider the polynomial:
$$ g(\lambda,x) = \det(\lambda \mathbf{I} + x \mathbf{e}_{ii} - \mathbf{A})$$
This of course could be extended to more labels, but I'm mostly interested in graphs with a single label at the moment.
Have these been studied before, and is there a name for these kinds of polynomials?
I'm particularly interested in learning about simple connected graphs which are non-isomorphic, and have the same "labelled characteristic polynomial", but differ only by a single labelled edge like $$\det(\lambda \mathbf{I} + x(\mathbf{e}_{ij}+\mathbf{e}_{ji}) - A) = \det(\lambda \mathbf{I} + x(\mathbf{e}_{mn}+\mathbf{e}_{nm}) - A)$$ where $mn$ and $ij$ are distinct edges. I'm assuming that is possible given the difficulty of graph isomorphism, but I'm not sure how to go about constructing such graphs.
OK, if you wish to obtain an answer here then I confirm my above comments that your should talk with a specialist. My google search extended my knowledge of an answer not far from zero.
I didn’t find exactly the same generalization of a characteristic polynomial of a graph as you proposed but I guess there should be some of them. See, for instance a paper “A Generalization of the Characteristic Polynomial of a Graph” by Richard J. Lipton and Nisheeth K. Vishnoi.
Personally I see two natural directions in which a further generalization may be useful. The first is a problem of an isomorphism of vertex or edge colored graphs. The second is a problem of a simultaneous isomorphism of two graphs with common vertex set (If I remember it right, a corresponding problem for the similarity of pairs of matrices is so called “wild problem” and when specialists in matrices encounter an equivalent problem they said with respect: “O-o, so it is the wild problem” and stop. Here is even written (in Russian) that it is not expected to obtain a reasonable answer to such a problem).
I suggest such graphs exist, because the quest to find two non-isomorphic graphs with matching characteristic polynomials (so called cospectral graphs) and even more additional restrictions, looks elaborated. See, for instance, the following papers: