Reddit user ahmedaki recreated the Spider-Man costume seen in the new photos from the Far From Home set, and it looks pretty dang accurate. It gives us a much better look at the belt, gloves, and boots. This suit is relatively close design-wise to the Homecoming costume, the black accents replaced with red ones. The belt is a bit different and features additional black accents, and the gloves have received more changes than anything else.
Instead of the primary red and webbed design, most of the gloves are all black, with only the fingers having the webbed design.
You can check out the recreation in the photo above.
While you can't see it in the photo here, the suit also features an all-white spider symbol on the back of the costume. The front of the costume features a smaller spider symbol like the Homecoming suit, though it does seem to have a white outline.
As for how or why he gets this new suit, that remains to be seen, but it's a slick looking suit regardless. It also won't be the only new suit we see him in during the film, as previous set photos show Holland in a Spider-Man stealth suit of some kind, much closer to Spider-Man Noir than anything else. It remains to be seen if he will once again don his Homecoming costume or his suit from Avengers: Infinity War, so we'll just have to wait and see.
The suit seems to be inspired by the classic Steve Ditko take on the suit and the more recent Superior Spider-Man costume, which Otto Octavius made popular after he took over Peter's body. Now Otto has a totally different costume, which is green, gray, and white, but there's no telling if that will make it into the movie. Here's hoping it does though at some point down the line because it's pretty slick.
Spider-Man: Far From Home is directed by Jon Watts and stars Tom Holland (Peter Parker), Zendaya (Michelle Jones), Jacob Batalon (Ned), Jake Gyllenhaal (Quentin Beck), Marisa Tomei (May Parker), Tony Revolori (Flash Thompson), Numan Acar (Dimitri), Samuel L. Jackson (Nick Fury), and Cobie Smulders (Maria Hill).
Captain Marvel launches on March 8, 2019, the fourth Avengers movie on May 3, 2019, and Spider-Man: Far From Home on July 5, 2019.