The Collaborative International Dictionary of English v.0.48:

Snaky \Snak"y\, a.
   1. Of or pertaining to a snake or snakes; resembling a snake;
      serpentine; winding.
      [1913 Webster]

            The red light playing upon its gilt and carving gave
            it an appearance of snaky life.       --L. Wallace.
      [1913 Webster]

   2. Sly; cunning; insinuating; deceitful.
      [1913 Webster]

            So to the coast of Jordan he directs
            His easy steps, girded with snaky wiles. --Milton.
      [1913 Webster]

   3. Covered with serpents; having serpents; as, a snaky rod or
      wand. --Dryden.
      [1913 Webster]

            That snaky-headed, Gorgon shield.     --Milton.
      [1913 Webster]

WordNet (r) 3.0 (2006):

snaky
    adj 1: resembling a serpent in form; "a serpentine wall"; "snaky
           ridges in the sand" [syn: serpentine, snaky,
           snakelike]

Moby Thesaurus II by Grady Ward, 1.0:

146 Moby Thesaurus words for "snaky":
   Machiavellian, Machiavellic, aberrant, aberrative, acute,
   ambagious, amphibian, anfractuous, anguiform, anguine, arch,
   artful, astute, batrachian, cagey, canny, circuitous,
   circumlocutory, clever, colubriform, convolutional, crafty,
   crawling, creeping, crocodilian, cunning, cute, deceitful, deep,
   deep-laid, departing, designing, desultory, deviant, deviating,
   deviative, deviatory, devious, digressive, diplomatic, discursive,
   eellike, errant, erratic, excursive, feline, flexuose, flexuous,
   foxy, froggy, guileful, indirect, ingenious, insidious, inventive,
   involute, involuted, involutional, knowing, labyrinthine,
   lizardlike, lumbriciform, mazy, meandering, meandrous, ophidian,
   out-of-the-way, pawky, planetary, politic, rambling, ready, repent,
   reptant, reptile, reptilelike, reptilian, reptiliform, reptiloid,
   resourceful, rivose, rivulose, roundabout, roving, ruffled,
   saurian, scheming, serpentiform, serpentile, serpentine,
   serpentlike, serpentoid, sharp, shifting, shifty, shrewd, sinuate,
   sinuose, sinuous, slick, slippery, slithering, sly, smooth,
   snake-shaped, snakelike, sneaky, sophistical, stealthy, strategic,
   stray, subtile, subtle, supple, swerving, tactical, toadish,
   torsional, tortile, tortuous, trickish, tricksy, tricky, turning,
   twisting, twisty, undirected, vagrant, veering, vermiform,
   viperiform, viperish, viperlike, viperoid, viperous, vipery,
   vulpine, wandering, wary, whorled, wily, winding, wormlike,
   wreathlike, wreathy, zigzag