In a food processor or blender, combine the beans, basil, nutritional yeast, water, and garlic, and blend well. Add the olive oil, salt, and pepper, and continue to process until smooth. Transfer to a glass bowl, cover, and chill for 1 hour to allow the flavors to blend.
Meanwhile, blanch the asparagus in boiling water for 3 minutes. Remove asparagus from the water with a slotted spoon, immediately immerse in a bowl of ice water to stop the cooking process and to retain the bright green color. Blanch the snap peas in the same water for 1 minute, remove with a slotted spoon, and immerse in the ice water. Remove the asparagus and snap peas from the ice water, place on a towel, and pat dry.
Place the bowl of white bean pesto dip on a large platter, and alternating colors, arrange the vegetables around the bowl of dip.