He is Groot ('s armpit hair).
In the latest storyline of the Guardians of the Galaxy comic, Starlord and company travel to the planet where the black goo that gave Vemom his powers came from -- it's the Guardians versus a world full of Venoms, and that's something that could happen in a movie now. Also, Rocket Raccoon gets space rabies:
Him biting people is how the Marvel Zombies movie starts.
The point is, the Spider-Man franchise writers suddenly have a whole universe (literally) to play with. There's a chance the Sinister Six movie is about be canned, since director Drew Goddard is rumored to have been reassigned to a regular Spider-Man movie, but the Marvel connection could save that idea. During Marvel's Civil War storyline (coming to theaters in 2016), amongst the chaos of Captain America and Iron Man punching the Patriot Act metaphors out of each other, the Sinister Six are captured and tasked by Tony Stark with hunting down Cap and his Secret Avengers. If that doesn't sound awesome enough, also consider that this new version would be guaranteed to be at least a million times better than Sony's original Sinister Six by virtue of not featuring Paul Giamatti's terrible Russian accent.