I have always loved the snow,'' a rabbit grandfather tells the youngster nestled in his lap. A reminiscence of familiar wintery adventures follows, with a few rabbity twists: sledding, snowball fights, making a ``snow rabbit'' (whose carrot serves as nourishment, not as a nose), culminating with the traditional mug of cocoa. First-time author/illustrator Wallace brightens the simple, serviceable text with crisp, graphic cut-paper scenes. Her well-dressed rabbits stand out against the snowy backdrop and the soft gray skies. Although the book doesn't expand on its well-worn theme, its smallish trim size and carefully pared images give it a certain tidy charm. For a zestier and more innovative treatment, see Lois Ehlert's Snowballs (Children's Forecasts, Oct. 16). Ages 3-6. (Oct.)