This format is used as the color palette format for a variety of operating system image editors. It is used to store font templates in text and graphic editors. It allows you to change color intensity and transparency levels.
ICO is a file of this format usually contains a small image icons of different resolutions (16x16, 32x32, 64x64 pixels) and various color depths (16 colors, 32, 64, 128, 256, 16-bit, and so on). Used to display files and folders in the graphical user interface (GUI) operating systems. This format can be opened with the help of the program ACDSee.