Reference: El-elohe-israel
Fausets
The mighty God of Israel, who had just shown His infinite might in saving Jacob (whose name was by God changed to Israel, because by prayer he had might with this mighty God and had prevailed) from Esau his deadly foe. Jacob so called the altar he built on the spot before Shechem, already consecrated by Abram (Ge 12:7; 33:19-20). By it he implied that Jehovah, who was Abram's God, is also his God, as He had shown by bringing him safe back to Canaan as his inheritance.
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Hastings
Upon the 'parcel of ground' which he had bought at Shechem, Jacob built an altar and called it El-elohe-Israel, 'El, the god of Israel,' Ge 33:20 (Elohist). This appears a strange name for an altar, and it is just possible that we should emend the text, so as to read with the Septuagint, 'he called upon the God of Israel.'