вы можете использовать scatter:
plt.scatter(range(len(y)), y, c=z, cmap=cm.hot)
здесь у вас есть сеанс ipython -pylab:
In [27]: z = [0.3,0.4,0.5,0.6,0.7,0.2,0.3,0.4,0.5,0.8,0.9]
In [28]: y = [3, 7, 5, 6, 4, 8, 3, 4, 5, 2, 9]
In [29]: plt.scatter(range(len(y)), y, s=60, c=z, cmap=cm.hot)
Out[29]: <matplotlib.collections.PathCollection at 0x9ec8400>
Если вы хотите использовать plotВы можете получить эквивалентную цифру, как указано выше, с помощью (pycrust session):
>>> from matplotlib import pyplot as plt
>>> from matplotlib import cm
>>> y = [3,7,5,6,4,8,3,4,5,2,9]
>>> z = [0.3,0.4,0.5,0.6,0.7,0.2,0.3,0.4,0.5,0.8,0.9]
>>> for x, (v, c) in enumerate(zip(y,z)):
... plt.plot(x,v,marker='o', color=cm.hot(c))
...
[<matplotlib.lines.Line2D object at 0x0000000008C42518>]
[<matplotlib.lines.Line2D object at 0x0000000008C426D8>]
[<matplotlib.lines.Line2D object at 0x0000000008C42B38>]
[<matplotlib.lines.Line2D object at 0x0000000008C452B0>]
[<matplotlib.lines.Line2D object at 0x0000000008C45438>]
[<matplotlib.lines.Line2D object at 0x0000000008C45898>]
[<matplotlib.lines.Line2D object at 0x0000000008C45CF8>]
[<matplotlib.lines.Line2D object at 0x0000000008C48198>]
[<matplotlib.lines.Line2D object at 0x0000000008C485F8>]
[<matplotlib.lines.Line2D object at 0x0000000008C48A58>]
[<matplotlib.lines.Line2D object at 0x0000000008C4B1D0>]
>>> plt.show()
>>>