Here the explanation from Mike Rutherford and Phil Collins, taken from a Nicky Horne radio interview on BBC Radio 1 in 1978:
NH: Another track is called Snowbound…
MR: We tried to make this song a bit different, a verse/chorus romantic acoustic song and the drums were slowed down, if you listen, they have a funny sound. It was an easy one to record, a romantic song about a guy who gets inside a snowman outfit to hide from everybody, he was paranoid, and he gets stuck!
PC: We have never really, apart from perhaps this album, written love songs. We have always shunned away from them for some reason, a subconscious thing. It’s getting to the point now when most of the songs can be taken as love songs - Snowbound for instance is very romantic.
Here the explanation from Mike Rutherford and Phil Collins, taken from a Nicky Horne radio interview on BBC Radio 1 in 1978:
NH: Another track is called Snowbound…
MR: We tried to make this song a bit different, a verse/chorus romantic acoustic song and the drums were slowed down, if you listen, they have a funny sound. It was an easy one to record, a romantic song about a guy who gets inside a snowman outfit to hide from everybody, he was paranoid, and he gets stuck!
PC: We have never really, apart from perhaps this album, written love songs. We have always shunned away from them for some reason, a subconscious thing. It’s getting to the point now when most of the songs can be taken as love songs - Snowbound for instance is very romantic.
(https://www.twronline.net/issues/twr23/twr23_radio_interview_1978.htm)
[Edit: Typo fix.]