In this article, we propose an index modulation system suitable for optical communications, where the intensity of the light is modulated along the time, space and frequency dimensions, building a Frequency-Hopping Spatial Multi-Pulse Position Modulation (FH-SMPPM). We analyze its performance from the point of view of its efficiency in power and spectrum, and its implementation complexity and required receiver latency. We analyze its error probability in the case of the non-turbulent free-space optical (FSO) channel. We derive formulas for the average symbol and bit error probabilities, and the simulation results show that they are tight enough for a wide range of signalto-noise ratios and system parameters. We compare FH-SMPPM with other proposed index modulated systems of the same nature, and we highlight its distinctive advantages, like the flexibility to build an appropriate waveform under different constraints and objectives. Moreover, FH-SMPPM shows to be better performing in BER/SER and/or offer advantages in efficiency with respect to those alternatives, thus offering the possibility to be adopted for a variety of contexts.