Some Avengers might be protective. For instance, Captain America could immediately start giving Peter advice on how to better handle his dual identity and keep himself safe. He might offer training sessions to help Peter improve his skills as Spider - Man.
The Hulk might not really care that much in a funny sort of way. He might just grunt and say something like 'Kid is strong, that's good' and go about his business. But Thor could see Peter as a worthy young hero and offer to take him to Asgard to train him in some Asgardian combat techniques, seeing potential in him as a future great hero.
Some Avengers might be surprised. Tony Stark, for instance, might be like 'Kid, you're younger than I thought!' and then start to adjust how he mentors Spider - Man. He could become more cautious about the risks he lets Spider - Man take.
Tony Stark would probably be both proud and a bit worried. Proud because Peter is this brilliant young mind who has managed to be a hero on his own, but worried because he's just a kid. He might start to hover over Peter more, offering him better tech and trying to mentor him more closely. Captain America would likely be very accepting. He sees the good in people and would be happy to have another brave soul on the team. He'd probably offer Peter some words of wisdom about using his powers responsibly. Thor might be a bit clueless at first. He doesn't quite understand the whole 'secret identity' thing as well as the others, but once he gets it, he'd be all for having Peter around. He might see Peter as a little warrior and be eager to train him in his own Asgardian ways.
Well, it could also happen that Peter's Spider - Man suit technology gives him away. Maybe the Avengers have some advanced tech - sensing equipment, and when Peter is around in his suit, it gives off some unique signals that the Avengers pick up on. So, they start to look into it and eventually figure out that Peter is Spider - Man.
The Avengers would be furious. Natasha would use her spy skills to find out all about the bullies without them even knowing. Thor might be a bit more direct, perhaps showing up at the school in his full Asgardian glory to scare the bullies straight. Clint could offer to teach Peter some self - defense moves so he can stand up for himself.
She could be initially shocked. After all, finding out your friend is a superhero is a big deal. But then she might become excited and want to be more involved in Peter's Spider - Man life.
Well, Tony Stark might find it amusing and start making sarcastic comments about how creative the fans are. Steve Rogers would probably be a bit confused at first, but then he'd see the passion in the fanfiction and respect it. Thor would likely think it's a strange Midgardian thing but still be entertained by the wild stories.
The Avengers' reactions would vary. Natasha Romanoff might be intrigued by the different characterizations of Spider - Man in the fanfiction. She'd analyze how the writers are exploring his character. Bruce Banner could be a bit worried if the fanfiction has some scientific inaccuracies related to Spider - Man's powers. Clint Barton might just see it as a fun distraction and not take it too seriously.
The Avengers might be really excited. Tony Stark could be making witty remarks about Spider - Man's new suit in the trailer. Captain America would probably be proud to see a new hero emerging. And Thor might be a bit confused at first but then get into the cool stunts shown.
They could be shocked. Maybe some of them like Tony Stark would immediately start making jokes about how young he looks. And Captain America might show concern about revealing his identity so early.
The Avengers would likely be overjoyed. Tony might crack a joke about Coulson's 'resurrection' while also being secretly relieved. Steve would probably be very happy to see his friend again. Natasha might be a bit more reserved in her reaction but still glad. Thor would see it as a great sign and welcome Coulson back heartily.