SPANDEX!
Most Spider-Man costumes you see now are sublimation dye printed patterns on white or coloured spandex, there are tons of artists who sell suit designs:
Myself, Gunhead, renwick.design, crazyfrankly, or User Kenlandrum has generously made several of his patterns available for free here on the RPF.
You can then take these design files to services like ZentaiZentai, Zentaizone and Herostime to have them printed and sewn to your measurements.
Many of the more popular suit designs have been mass produced and you can pick up a good subdye printed spidey suit on ebay in generic sizes for very cheap.
If You're looking at the textured silk screen fabric route, parallellifestudios make incredible fabrics but they will run you considerably more than $50 for a full suits worth.
Joann fabrics carry some textured stretch fabrics from the yayahan collection but ive not seen any in red and blue, so depending what version of spidey youre doing that might be no good.
If youre set on a scratch-built spidey suit any 4 way stretch spandex will set you right but id first look at some other builds by people on youtube and follow their example, you'll also want to look for a suit sewing pattern that matches what youre after stylistically.
Sewing these sort of suits is very challenging though, there are plenty of posts and videos online of people documenting these kinds of builds, make sure you do your research first.
But make sure you get a faceshell and a dancers belt too!
Hope this helped.
