How to get the label values for list fields in Twig?
There are a few ways:

It calls List allowed values and it stores in the field configuration.

When field cardinality is 1

&lt;div&gt;
  {% set list_value = node.filter_list.value %}
  {{ node.filter_list.getSetting('allowed_values')[list_value] }}
&lt;/div&gt;


When field cardinality is more than 1

&lt;div&gt;
  {% set allowed_values = node.filter_list.getSetting('allowed_values') %}
  {% set list_values = node.filter_list.getValue() %}
  {% for list_value in list_values %}
    &lt;div&gt;
      {{ allowed_values[list_value['value']] }}
    &lt;/div&gt;
  {% endfor %}
&lt;/div&gt;


In case when your template is node.html.twig you can render it based on field formatter in your view mode. 

&lt;div&gt;
  {{ content.filter_list }}
&lt;/div&gt;