diff --git a/Makefile b/Makefile
index 592ddc1..189f517 100644
--- a/Makefile
+++ b/Makefile
@@ -3,8 +3,14 @@ LDLIBS += -lm
 
 all: img2cpi cpi2png wsvpn
 
+test-cpi2png: cpi2png
+	./cpi2png ./cpi-images/rat.cpi /tmp/rat.png
+
 img2cpi: img2cpi.c cc-common.o dependencies/stb/stb_image.o dependencies/stb/stb_image_resize2.o
-	$(CC) $(LDFLAGS) $^ $(LDLIBS) -o "$@"
+	$(CC) $(LDFLAGS) $^ $(LDLIBS) -o "$@" $(CPPFLAGS)
+
+cpi2png: cpi2png.c cc-common.o dependencies/stb/stb_image_write.o
+	$(CC) $(LDFLAGS) $^ $(LDLIBS) -o "$@" $(CPPFLAGS)
 
 dependencies/stb/%.o: dependencies/stb/%.h
 	$(CC) -DSTB_IMAGE_IMPLEMENTATION -DSTB_IMAGE_RESIZE_IMPLEMENTATION -DSTB_IMAGE_WRITE_IMPLEMENTATION -x c $^ -c -o "$@"
diff --git a/cpi2png.c b/cpi2png.c
index b599272..9038073 100644
--- a/cpi2png.c
+++ b/cpi2png.c
@@ -1,14 +1,108 @@
-// x-run: make cpi2png
+// x-run: make test-cpi2png
 
+#include <assert.h>
+#include <stdbool.h>
+#include <stdio.h>
 #include <stdlib.h>
-
-#define STB_IMAGE_IMPLEMENTATION
 #include <stb/stb_image.h>
-#define STB_IMAGE_WRITE_IMPLEMENTATION
 #include <stb/stb_image_write.h>
+#include <string.h>
 
+#include "cc-common.h"
+
+bool read_varint(FILE *fp, unsigned int *out);
 
 int main(int argc, char **argv) {
+  if (argc < 3) {
+    fprintf(stderr, "Usage: %s [input.cpi] [output.png]\n", argv[0]);
+  }
 
+  FILE *fp_in = fopen(argv[1], "rb");
+  assert(fp_in != NULL && "Failed to open input file");
+
+  unsigned char header[4];
+
+  unsigned char version = 0;
+  assert(fread(header, 1, 4, fp_in) == 4 && "Failed to read header: not enough bytes");
+  if (0 == memcmp(header, "CCPI", 4)) { // Original CCPI (CPIv0)
+    printf("CPIv0 (old header)\n");
+  } else if (0 == memcmp(header, "CPI", 3)) { // Newer CCPI (CPIvX)
+    version = header[3];
+  } else {
+    assert(false && "Not a CPI/CCPI image: invalid header");
+  }
+
+  if (version & 0x80) {
+    fprintf(stderr, "Draft version: 0x%02x may not be supported properly! Here be dragons!\n", version);
+  }
+
+  unsigned int width = 0, height = 0;
+
+  if (version == 0) {
+    width = fgetc(fp_in);
+    height = fgetc(fp_in);
+    (void)fgetc(fp_in); // XXX: ignore scale
+  } else if (version == 1) {
+    assert(read_varint(fp_in, &width) && "Failed to read width varint");
+    assert(read_varint(fp_in, &height) && "Failed to read height varint");
+  } else {
+    assert(false && "Failed to read size: unsupported version");
+  }
+
+  union color *canvas = malloc(width * height * 8 * 11 * sizeof(union color));
+
+
+  // XXX: may change in future when we introduce variable-size palettes
+  // though, it may never change, if I'm being honest. Why would I choose
+  // worse image quality with less colors when I can use all of them?
+  union color *colors = calloc(16, sizeof(union color));
+
+  // NOTE: our `union color` type is 4 bytes long, while palette stored in the
+  // file itself uses 3 bytes per color, so we can't just `fread` them at once,
+  // sadly.
+  for (int i = 0; i < 16; i++) {
+    colors[i].rgba.r = fgetc(fp_in);
+    colors[i].rgba.g = fgetc(fp_in);
+    colors[i].rgba.b = fgetc(fp_in);
+    colors[i].rgba.a = 0xff;
+  }
+
+  for (int y = 0; y < height; y++) {
+    for (int x = 0; x < width; x++) {
+      unsigned char sym = fgetc(fp_in);
+      unsigned char color = fgetc(fp_in);
+      union color background = colors[color & 0xF];
+      union color foreground = colors[color >> 4];
+      for (int oy = 0; oy < 11; oy++) {
+        for (int ox = 0; ox < 8; ox++) {
+          union color pix = ((0x80 >> ox) & cc_font_atlas[sym][oy]) ? foreground : background;
+          canvas[ox + (x + (y * 11 + oy) * width) * 8] = pix;
+        }
+      }
+    }
+  }
+
+  stbi_write_png(argv[2], width * 8, height * 11, 4, canvas, 0);
+
+  free(colors);
+  free(canvas);
+  fclose(fp_in);
   return EXIT_SUCCESS;
 }
+
+bool read_varint(FILE *fp, unsigned int *out) {
+  int position = 0;
+
+  while (true) {
+    unsigned char curr = fgetc(fp);
+    *out |= (curr & 0x7F) << position;
+
+    if ((curr & 0x80) == 0) break;
+
+    position += 7;
+
+    if (position >= 32) return false;
+  }
+
+  return true;
+}