Step 1 :The given function is indeed a polynomial function. A polynomial function is a function that can be expressed in the form of a polynomial.
Step 2 :The degree of a polynomial function is the highest power of the variable in the polynomial. In this case, the highest power of the variable x in the given function is 7.
Step 3 :Therefore, the degree of the polynomial function is 7.
Step 4 :Final Answer: The function \(f(x)=5 x^{5}+6 x^{7}\) is a polynomial function and its degree is \(\boxed{7}\).