Correct.
Given a collection of data samples (xᵢ,yᵢ), you might say that a function f is 𝐢𝐧𝐭𝐞𝐫𝐩𝐨𝐥𝐚𝐭𝐢𝐧𝐠 if f(xᵢ) = yᵢ for all i.
The definition of an 𝐚𝐩𝐩𝐫𝐨𝐱𝐢𝐦𝐚𝐭𝐢𝐧𝐠 function is not as crisp, but you might say that, e.g., it minimizes error among some class of functions. E.g., the “best-approximating” polynomial of a fixed degree might minimize the sum of squared differences ∑ᵢ ‖f(xᵢ)−yᵢ‖² among all polynomials of that degree.