The back-half of X-Men Origins: Wolverine is half action movie, half potential spin-off showcase. Would the follow-up feature Cyclops? Maybe Gambit? General Stryker and his feet of steel? The answer is none of the above. Looks like the magic arrow now points to Ryan Reynolds' Deadpool, according to Variety:
Twentieth Century Fox has begun development on "Deadpool," an "X-Men" spinoff that will be crafted as a star vehicle for Ryan Reynolds, who played the character in "X-Men Origins: Wolverine."
The character is one of the most popular in Marvel Comics' X-Men universe. Deadpool is Wade Wilson, a mercenary who, dying of cancer, submits himself to the Weapon X genetic alteration experiment and emerges as an indestructible semi-sane anti-hero.
Of course, that's a different, more interesting origin than the one in the movie, but it's not like Wolverine made so much sense it couldn't be retconned away.