Remnant is a hostile place to live in RWBY. Grimm, attracted to fear and sadness, roam the earth, prompting huntsman to protect citizens. That means the characters of RWBY are already pros at surviving in dangerous situations. Various academies even have match-ups between students to see their fighting skills in action, like the third volume's Vytal Festival. That should mean the RWBY characters would see themselves at an advantage when it comes to a Hunger Games situation, right?
That's not necessarily the case. After all, huntsman are used to battling creatures to protect others; they're not used to battling one another to the death. Ruby Rose and her friends have been through a lot over the course of the show, but they wouldn't all be able to survive in the arena of The Hunger Games.
Pyrrha
Pyrrha Nikkos is written to be the classical hero in the first three volumes of the series. She's who everyone thinks will come out on top, but Pyrrha has one fatal flaw: her compassion for others.
Pyrrha is someone who apologizes for everything, even things that aren't her fault. She puts everyone around her first, considering her own wants and needs last. That leads to her sacrificing herself in a battle against Cinder Fall at the end of the third volume of the series, and it's exactly how she would behave in the Hunger Games. Pyrrha would absolutely put herself between the more experienced fighters and the younger tributes, giving those with a disadvantage a fighting chance. She probably even volunteered to be a tribute so someone else wouldn't have to.
Jaune
Jaune Arc doesn't initially have as much experience as the rest of the friends he makes at Beacon Academy. In fact, he forges his documents and lies about his experience to get into the academy to begin with. Though he's become much more skilled as the series has progressed, he wouldn't be a match for the tributes who trained their entire lives for a chance to become a victor in the arena.
In fact, like Pyrrha, Jaune would probably stand up to those very tributes in an effort to help those even less experienced than him. There's no question that he would fall while trying to protect someone else - though it might be after a stint trying to infiltrate an alliance.
Oscar
As the youngest member of the central characters in RWBY's seventh and eighth volumes, Oscar is definitely not the best fighter. He does have a few advantages that might help him outlast his opponents.
Oscar is used to hard work. He grew up working on a farm, so he's used to being outside for long periods of time, manual labor, and keeping animals calm. Oscar also has Ozma on his side. With him taking the place as the next reincarnation of Ozma, there are skills Oscar has yet to unlock. The question is whether he'd be able to before the other Hunger Games tributes got to him. Probably not.
Yang
Of Team RWBY, Yang Xiao Long is definitely the most impulsive. She's the first one to rush into a fight and let her temper get the better of her. Despite her impressive skills, her ability to take a hit, and her semblance allowing her to redirect energy, that impulsive nature would be her downfall.
Yang wouldn't be willing to play the long game. Instead, she'd rush into confrontations to eliminate as many competitors as possible. Eventually, she'd simply wear herself out and leave herself at a disadvantage. Unless she formed an early alliance in the arena, Yang would be out very early.
Weiss
With the Schnee family's wealth and connections, Weiss is one of those tributes who would have been training for her Hunger Games since she could walk - whether she wants to or not. That would make Weiss proficient with her weapon of choice, but it also might make her overconfident going into the arena.
Just as she thought she was more likely to be made team leader in her early interactions with Ruby, Weiss would think she would have an easy time taking on enemies. She would be in for a rude awakening. While Weiss would probably make it pretty far in the games themselves, without teammates to back her up, she would eventually flounder.
Nora
Much like Yang, Nora can be very impulsive. With her ability to channel electricity, her impulsivity can also pack quite a punch. Her sudden decisions would keep her enemies on their toes for a while.
Nora has a lot of energy and she tends to keep going until she drops. That would be her mistake. Nora wouldn't temper herself or the use of her semblance, but try to simply push herself forward. Eventually, she would wear herself down completely and wouldn't be able to put up much more of a fight.
Ruby
Ruby is a natural born leader, and despite being younger than all of her teammates, a decent strategist in addition to the charm that makes her so likable. Both of those things would serve her well if she was able to make an alliance with anyone else in the arena.
The trouble is that Ruby might be too noble to keep fighting in the Hunger Games. She would get tired of the violence and the destruction the longer she lasted. If she did make it to the end of the Games, Ruby might not be able to live with the person she had to become to do it.
Blake
Her quiet nature and tendency to stay out of a lot of fights might make Blake Belladonna seem like an unlikely hero to survive the Hunger Games. Blake, however, is someone who has already survived an abusive relationship and fought for the rights of her people with a group of rebels. She's also got an edge when it comes to her semblance.
Blake can literally make a copy of herself to take her place, so it's unlikely anyone is getting an easy shot at her. She also has ears like a cat, giving her superior hearing, and as a faunus, can see in the dark. Blake is making it near the end of the games, if not winning the whole thing.
Ren
Lie Ren is a bit of a wild card. His particular semblance involves masking his emotions, which comes in handy against Grimm, but not necessarily against people. That means his survival of the games is all about his intelligence and his fighting skills.
Ren knows the value of hiding from an enemy to live again. It's how he saved himself and Nora as children. He also is quick to see the consequences of a situation in a fight (though not always in social encounters), so he'd be the type of person to choose his battles carefully, avoiding other combatants until he had to face them. Like Blake, Ren could potentially be a Hunger Games victor.
Neo
In order to win the games, however, a tribute doesn't just have to be a good strategist and fighter in the arena. They also have to use their every advantage, including playing to the cameras, as Katniss Everdeen demonstrates. Though Neo doesn't speak, she'd be able to charm the Capitol quickly.
Neo's style is a little flashy on her own. She uses found objects, like umbrellas, as weapons easily and is a gymnastic fighter. Neo also has one of the most powerful semblances in RWBY. Her Overactive Imagination means she can make illusions seem completely real. She would be able to make her competitors see anything she wanted, appearing as other people, changing the landscape, or even the weapons. The audience would be fascinated by her and the tributes would be confused by her. Neo would win the whole thing.