What do you need to do to setup fail-safe in Snowflake?

There is no setup involved in fail-safe as it is a non-configurable service that is always on to ensure historical data is protected against unexpected failures. It is intended to be used only when all other recovery options have been exhausted. It is accessed only by Snowflake themselves, so if you need a restore from fail-safe, you must create a support ticket! Be aware that recovery may take several hours or several days to complete.