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]