In the 2002 version of Spider-Man, Tobey Maguire’s character tries different ideas of what his superhero costume will look like and what his symbol will be. One of the options that Peter decided not to use was Black Widow’s symbol (that is another Marvel character). It was a red hourglass that looked a bit different in the film, but still recognizable.

By the way, the fans have a theory about why Spider-Man’s costume is red. The character chose this color because it’s associated with Mary Jane, who he loved. She had red hair.