The symplectic group branching algebra, ß, is a graded algebra whose components encode the multiplicities of irreducible representations of Sp2n−2(ℂ) in each finite-dimensional irreducible representation of Sp2n (ℂ). By describing on ß an ASL structure, we construct an explicit standard monomial basis of ß consisting of Sp2n−2(ℂ) highest weight vectors. Moreover, ß is known to carry a canonical action of the n-fold product SL2×⋯×SL2, and we show that the standard monomial basis is the unique (up to scalar) weight basis associated to this representation. Finally, using the theory of Hibi algebras we describe a deformation of Spec(ß) into an explicitly described toric variety.