Not much is known about the new Spider-Man that's taking Peter Parker's place in the Ultimate Universe besides his name. So far, all we've seen of him is his short appearance in Ultimate Fallout #4.
A little more information was given to us during an interview with Sara Pichelli, artist for the upcoming Ultimate Comics Spider-Man #1. Previews for the upcoming new Ultimate Spider-Man story arc was shown to the public featuring Miles Morales and what looks like is his family, but he's not sporting the Spider-Man suit at all.
Along with previews, concept art was also released of Miles; he looks pretty different than his conceptual designs, I like how it looks now than Marvel's original ideas.
oh shit he's an OKC fan, i like him already