To "Ensnare the Carebear" is to trap and ensnare those whom you know have "a thing" for you or "are in like" with you. They keep them on the hook for their own selfish reasons, usually for financial, emotional or self-esteem related fulfillment.
The key fact here is that the feelings of the "Carebear" are not reciprocated by the one "Ensnaring the Carebear" - they don't like the Carebear but are just leading them on. One who "Ensnares the Carebears" is a Carebear Ensnarer, oft confused with the much similar Jay Amatya, well they are pretty much the same.
A girl one-way webcams (she has a webcam he doesn't) with said guy everyday and does absurd things such as.. say.. eating pretzels seductively. She obviously has some kind of attraction to him whereas he doesn't yet just lets her continue simply because this boosts his ego.
This is only one simple example on how many horrible human beings out there "Ensnare the Carebear" =O