Since it's an upgrade provided by Tony Stark, many fans assumed this would be the Marvel Cinematic Universe version of the Iron Spider costume from the Civil War comic storyline. That has seemingly been confirmed by merchandise, which reveals it will have a lot in common with the source material's counterpart.
A new set of Minimates features characters as they'll appear in Avengers: Infinity War, including a version that could be officially called "Iron Spider-Man." This figure is noteworthy because it features the four extra mechanical spider arms that come from the back.
This is the latest confirmation since the LEGO set showed a brick-built version of the spider arms, though those are less accurate given they're made with LEGO assets. While Minimates are highly stylized, these give a better indication of what they'll look like in the film, especially the red, blue, and gold color scheme.
In the comic books, the Iron Spider costume is all red with solid accents. It looks like Iron Man's version of the Spider-Man suit, because that's exactly what it is. Stark designed it for Parker after the latter joined the pro-Registration side, going public with his identity. Parker would later switch sides and abandon the high-tech suit, and a later storyline wiped his identity reveal from the minds of the world after he sold his love of Mary Jane to the demon Mehpisto (comics, y'all).
The movie version of the suit doesn't humor Stark's ego as much as the comic version does, keeping the classic red-and-blue scheme while incorporating gold accents as a nod to the source material. And now we see it also adds the spider arms, and that they're likely to aid Parker in the battle against Thanos and his Black Order.
Avengers: Infinity War looks to be taking influence from a variety of fan-favorite Marvel Comics, including Civil War, Infinity Gauntlet, and Infinity. It remains to be seen just how faithful the Marvel Studios movie will be to the comics, though it appears that fans will be able to pick out many easter eggs and references throughout the film.
Avengers: Infinity War premieres in theaters on May 4th. Black Panther is now in theaters. Other upcoming Marvel Cinematic Universe movies include Ant-Man and the Wasp on July 6th, Captain Marvel on March 8, 2019, the fourth Avengers movie on May 3, 2019, the sequel to Spider-Man: Homecoming on July 5, 2019, and Guardians of the Galaxy Vol. 3 in 2020.