It was the first time that Ferdinand and Terry have met on a football field since the England centre-back's race trial in July.
Terry was found not guilty of using a racial slur against Ferdinand in the corresponding fixture last October, but remains the subject of a Football Association investigation over charges that he denies.
The QPR defender rejected the offer of his two rivals' outstretched hands before Saturday's game.
No other QPR player appeared to ignore Terry or Cole, who testified as a character witness for his England team-mate at the trial.
QPR fans then began making derogatory chants aimed at Terry and Cole.
The pair were jeered every time they touched the ball as the highly-charged west London derby got under way.
QPR manager Mark Hughes said on Friday that he would allow his players to make up their own mind whether to shake hands in the pre-match ritual after the Premier League had declared it must go ahead.
The enmity between Ferdinand and Terry threatened to turn the handshake, which was introduced as part of the Football Association's Respect campaign, into a farce.
Hughes wants the routine to be dropped after complaining that it "ludicrously" overshadowed the build-up to the game.
It is not the first time Terry has been involved in a handshake row. Wayne Bridge snubbed the former England captain following allegations of an affair with the Manchester City defender's former partner.
And Luis Suarez refused Manchester United's Patrice Evra's offer of a handshake, despite the Liverpool forward being found guilty by the Football Association of racially abusing him earlier in the season.