Snipping tool is very useful and handy tool for taking screenshots of the console. I used it very much when worked on Windows 7 and Windows Server 2008 R2. While playing with Windows Server 2012, I found it is missing. Without that, it is difficult for me to post any blog update(trust me, I rely so much on it).
After some struggle, I learned that it will come by default and this optional feature needs to be installed explicitly if you want to have it on Windows Server 2012. The below powershell commands will help you in enable this feature.
Enable-WindowsOptionalFeature -Online -FeatureName User-Interfaces-Infra
Similarly if you want to remove the feature, try below oneliner.
Disable-WindowsOptionalFeature -Online -FeatureName User-Interfaces-Infra
Hope this helps.