1. A non-transitory computer-readable medium having computer-executable instructions for performing a method of image compression and decompression, the method comprising: accessing a first plurality of indices associated with a tile of an image, wherein each index of said first plurality of indices corresponds to a respective location in said tile, wherein a total number of said first plurality of indices is smaller than a total number of pixels in said tile, and wherein further said first plurality of indices result from an index compression process on said plurality of pixels and are stored in a storage device; and decompressing said first plurality of indices to determine color data of each pixel of said plurality of pixels, wherein said decompressing comprises: determining a location of said pixel in said tile; identifying a group of indices resulted from said index compression based on said location of said pixel and further based on locations of said group of indices, wherein each index in said group of indices corresponds to a different location; performing interpolation on said group of indices to determine an interpolated index for said pixel; using said interpolated index of said pixel as an index to search a weight lookup table to determine a weight, wherein said weight correspond to an interpolated weight that is determined based on weights stored for said group of indices, wherein said group of indices correspond to locations neighboring said pixel; and using said weight to determine a color data of said pixel.