What it could be is monumental at this point. It could be just about anything including and bear with me on this another spin off revolving around another character.
If anything, I would like to see a spinoff involving D.W. and her friends/classmates. The series already feels kind of divided between Arthur and his friends and D.W. and her friends. Splitting into two separate series would be the most sensible way to go, I'd think. The D.W. series could be geared towards the preschool-age viewers while the Arthur series will still be for the tween-and-older crowd.
...I'm getting way off subject here, so I'll stop.