Step 1: Express angle in sum form.
\[
\frac{\pi}{12} = \frac{\pi}{4} - \frac{\pi}{6}
\]
Step 2: Use cosine difference formula.
\[
\cos(A-B) = \cos A \cos B + \sin A \sin B
\]
Step 3: Substitute values.
\[
\cos \frac{\pi}{4} = \frac{\sqrt{2}}{2}, \quad \sin \frac{\pi}{4} = \frac{\sqrt{2}}{2}, \quad \cos \frac{\pi}{6} = \frac{\sqrt{3}}{2}, \quad \sin \frac{\pi}{6} = \frac{1}{2}
\]
Step 4: Compute using formula.
\[
\cos \frac{\pi}{12} = \frac{\sqrt{2}}{2} \cdot \frac{\sqrt{3}}{2} + \frac{\sqrt{2}}{2} \cdot \frac{1}{2} = \frac{\sqrt{6} + \sqrt{2}}{4}
\]
Step 5: Final conclusion.
\[
\boxed{\frac{\sqrt{2} + \sqrt{6}}{4}}
\]