Snow is by far the worst possible terrain to settle near. It provides no benefits at all - no Woods, no Rivers, and only a few resources can be found there - though it may still have Lakes or coastlines. That said, some late-game strategic resources may be found in the Snow, sometimes making polar colonies worthwhile. Try to settle on Snow tiles only along the Coast, or in close proximity with other terrain types - otherwise, any city founded there will have neither Food nor Production, and you will be forced to develop it via Trade Routes only.
As a general rule, you should consider settling on a Snow tile only if you are playing as Sweden, trying to grab some rare Uranium that you do not already have in your empire, or planning to build the Amundsen-Scott Research Station.
History offers very few examples of human survival in snow-covered lands in cold climates. There are exceptions, such as the Inuit and Tlingit peoples, but snowy wastes are not ideal places to build a thriving civilization.