The ratio 3:12 can be reduced to a simpler form by dividing both the numerator and the denominator by 3, which is the greatest common factor of 3 and 12. Doing this, we get:
3 ÷ 3 : 12 ÷ 3 = 1 : 4
So, the two ratios that are equivalent to 3:12 are:
C: 4 : 12
E: 1 : 4
Therefore, the correct answers are C and E.