What is the name of the tool that is like a wrench made with two levers for grasping or cutting bolts, wire, and other materials?

The tool described in the question is called pliers. Pliers are specifically designed with two handles and pivot points, allowing users to grip and manipulate objects effectively. They come in various types, including those designed for gripping, cutting, or bending materials like wire or bolts. The lever action of pliers makes them useful for applying a significant amount of force with minimal effort, which is essential for tasks such as cutting or bending.

In contrast, a wrench is primarily used to provide grip and torque to turn objects like nuts and bolts, but does not generally have the ability to cut or grasp items with precision like pliers do. A screwdriver is designed for turning screws and lacks the gripping capability of pliers. A hammer is a tool used for striking objects; it does not fulfill the functions associated with grasping or cutting, which are key characteristics of pliers. Thus, among the options, pliers are the most fitting answer for the described tool.