Palette - (CLUT {Color Look-Up Table})  - In computer graphics, the palette is the set of available colors.  For a given application, the "palette" may only be a portion of the total number of colors that can actually be displayed. For example, a SVGA computer system (at least at the time of this writing) can potentially display 16 million unique colors, but let's say a given program can use only 256; in that case the computer system's palette would consist of the 16 million colors, but the program's palette would contain only 256 colors.

See the Interactive Television Institute.