Smali uses the same set of characters for label names as for any other identifier. The valid characters are defined in the SimpleName section of the dex specification.
SimpleName → SimpleNameChar (SimpleNameChar)*
SimpleNameChar →
'A' … 'Z'
| 'a' … 'z'
| '0' … '9'
| '$'
| '-'
| '_'
| U+00a1 … U+1fff
| U+2010 … U+2027
| U+2030 … U+d7ff
| U+e000 … U+ffef
| U+10000 … U+10ffff