Resource monitors in Snowflake are tools used to track and control the consumption of compute resources, ensuring that usage stays within defined limits. These monitors can be created at the account level, allowing administrators to set overall resource consumption limits for the entire Snowflake account. Additionally, resource monitors can be set at the virtual warehouse level, enabling more granular control over the resources consumed by individual warehouses. This dual-level capability allows organizations to manage their Snowflake usage efficiently, preventing unexpected costs and optimizing performance.