Winter's Chill

Instant    (CMC:1)

Cast only during combat before defense is chosen. At end of combat, destroy X target attacking creatures; X cannot be greater than the number of snow-covered lands you control. For each attacking creature, its controller may pay or to prevent it from being destroyed in this way. If that player pays , the creature neither deals nor receives damage in combat. If that player pays , the creature deals and receives damage in combat as normal.

IA • ENEdward Beard, Jr.

™ & © 1993—1995 Wizards of the Coast

Legal in: Ice Age Block,Legacy,Vintage,Commander

Oracle Text (click to copy):

Winter's Chill {X}{U} Instant Cast Winter's Chill only during combat before blockers are declared. X can't be greater than the number of snow lands you control. Choose X target attacking creatures. For each of those creatures, its controller may pay {1} or {2}. If that player doesn't, destroy that creature at end of combat. If that player pays only {1}, prevent all combat damage that would be dealt to and dealt by that creature this combat.

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View this MTG card on Gatherer

10/4/2004
The payments are made when the spell resolves. The three options are: pay  to let creature act as normal, pay  to have creature neither deal or receive damage, or pay nothing and the creature does deal and receive damage but it will be destroyed at end of combat.
9/20/2013
If a turn has multiple combat phases, this spell can be cast during any of them as long as it's before the beginning of that phase's Declare Blockers Step.

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Card Winter's Chill is not on TCGPlayer.