Right click on ArcMap environment, 3d Analyst tool is there, then you click that. there are different interpolation techniques are there. In open source GIS, Quantum GIS (QGIS) having interpolation technique tool (Main menu-----Raster -------Interpolation). all the best...
All the interpolation methods in ArcGIS require one of the three raster-based extensions: 3D, spatial, or geostatistical analysts. Hawth's Geospatial Modeling Environment is a free ArcGIS extension and can act as a bridge to R, and that might have a way to use R to do the interpolation for you. As mentioned before, there are some open source alternatives. QGIS is the most comprehensive, and has extensions for raster analysis with GRASS or SAGA. You can also install SAGA GIS as a standalone and that has most of the interpolation methods ArcGIS has, and isn't too difficult to start using. Hope that helps.
As suggested by other colleagues, ArcGIS will provide Spatial Analyst and Geostatistical Analyst tools in which you can find different interpolation methods. However, you can also explore Surfer 13 at http://www.goldensoftware.com/, that has a little bit more methods than ArcGIS.
All interpolation methods providing by ArcGIS are described under this link: http://webhelp.esri.com/arcgisdesktop/9.2/index.cfm?TopicName=An_overview_of_the_Interpolation_tools
as far as I know in the spatial analyst there is, for example, the Inverse Distance Weighted method.. I often use this one (mainly not in ArcGIS but in GRASS), since it's easy and quite performing
Whatever the method used at the end. It is essential to achieve variographic analysis to describe the behavior of the data you want to spatialized Geostatistical Analyst running under ArcGIS can do this very easily and there are many tutorials to help you.
Depending on the results of the variography, sometimes a simple triangulation or IDW interpolation may be ok. Only variography can help validate the choice of the interpolation method