1. An electronic device for generating and controlling virtual objects within an augmented reality environment, comprising: one or more processors configured to acquire one or more images of a portion of a real-world object and acquire a three-dimensional model of the real-world object, the one or more images include a color image and a depth image, the one or more processors configured to update at least a portion of the color image with interpolated pixel values derived from pixel values within the color image based on depth information from the depth image, the one or more processors configured to identify one or more specular reflections within the one or more images and generate a texture exemplar using the one or more images and the three-dimensional model of the real-world object, the one or more processors configured to generate the texture exemplar using the color image and the depth image such that the one or more specular reflections are substantially removed from the texture exemplar and such that distortions caused by a curved surface of the real-world object are corrected, the one or more processors configured to render images of a virtual object using the texture exemplar such that the virtual object appears to be at least partially covered with a virtual material corresponding with the texture exemplar, the one or more processors configured to generate the texture exemplar and render the images of the virtual object in real-time; and a display in communication with the one or more processors, the display configured to display the rendered images of the virtual object.