I understand that chromatic polynomials give the number of possible colorings for a graph with $t$ colors. For example, the chromatic polynomial for a complete graph with $n$ vertices is $t(t-1)\cdots(t-n+1)$ because there are $t$ ways to choose the first color, $t-1$ ways to choose the 2nd color, etc. and the same color cannot be used twice because all the vertices are connected.
My question is: how do you derive (in general) the chromatic polynomial for a graph? Specifically, what is the chromatic polynomial for the Peterson graph and how do you derive it?
P.S. Also I've seen "characteristic polynomial" substituted for "chromatic polynomial" sometimes. Are the two terms equivalent? If not, how are they different?
Many thanks :)