Could be the weather but I doubt it. Looks like you hit a pot-hole or possibly a curb and this is the end result. I would not want to be driving on that tire long - especially in this weather as changing a flat tire in frigid temps would not be fun. If it were me, I would be looking to get that replaced soon.

 

I agree with NBP04TL4ME, it is highly unlikely simple cold weather caused that damage to your tire, and yes, it dangerous to drive with it; tire failure is imminent.

 

Side wall damage cannot be repaired and if it is damaged, it's on its last leg. All that is keeping the tire from blowing is some thin outside rubber on the side wall. Get it replaced asap.

it is 100% from hitting a pothole or something at speed. I've seen damage like that before. It could even be a tire manufacturing error. But good luck getting warranty on that. Everyone will just say you hit something and tell you to pay up, haha

 

Thanks everyone! It’s time for new tires as well so I ordered 4 Michelin defenders