Miles Morales is a variant of Spider Man from the Ultimate Spider-Man comics series from 2011. His costume is similar to Peter Parker's in design, but varies drastically in color. This minifigure was released in 2015.
Miles Morales was bitten by a spider that had been genetically enhanced with the Oz Formula. After discovering he had spider-like super powers, Miles was initially hesitant to use them, preferring instead to live a normal life. When Peter Parker was killed, Miles became inspired by Peter's philosophy, "With great power comes great responsibility" and decided to take on the mantle of Spider-Man.