Typical mobile malware is nothing but traditional malware that runs on mobile devices. What malware does is highly dependent on what the malware author wants to achieve. Keeping these factors in mind, the following are some characteristics of Android malware:
Stealing personal information and sending it to the attacker's server (personal information includes SMSes, call logs, contacts, recording calls, GPS location, pictures, videos, browsing history, and IMEI)
Sending premium SMS that cost money
Rooting the device
Giving an attacker remote access to the device
Installing other apps without the user's consent
Serving as adware