Dead snakes can be skinned by using a knife on the snake corpse to obtain swamp snake hides. The hides can be tanned into snakeskin and made to armour. The swamp snake hide looks different from normal snake hide, although the snakeskin armour crafted from it will be no different.
A glitch can occur where it reaches 0 hitpoints but then is given the max health of 1 and restored. It then may be attacked by your trekking partner who deals a finishing blow, which makes it die without turning into a dead swamp snake and just produces bones as a drop.