Step 1: Let the coordinates of the point be \(x\) and \(y\).
Given point is
\[
\left(\frac{8t}{1+t^2},\frac{4(1-t^2)}{1+t^2}\right)
\]
So,
\[
x=\frac{8t}{1+t^2}
\]
and
\[
y=\frac{4(1-t^2)}{1+t^2}
\]
Step 2: Compare with standard parametric form of a circle.
The standard parametric form of a circle is
\[
x=2a\frac{t}{1+t^2}
\]
and
\[
y=a\frac{1-t^2}{1+t^2}
\]
This represents the circle
\[
x^2+y^2=a^2
\]
Step 3: Identify the value of radius.
Here,
\[
x=\frac{8t}{1+t^2}=2(4)\frac{t}{1+t^2}
\]
and
\[
y=4\frac{1-t^2}{1+t^2}
\]
Therefore,
\[
a=4
\]
Step 4: Verify by direct substitution.
Now,
\[
x^2+y^2
=
\left(\frac{8t}{1+t^2}\right)^2
+
\left(\frac{4(1-t^2)}{1+t^2}\right)^2
\]
\[
=
\frac{64t^2+16(1-t^2)^2}{(1+t^2)^2}
\]
\[
=
\frac{16\left[4t^2+(1-t^2)^2\right]}{(1+t^2)^2}
\]
\[
=
\frac{16\left[4t^2+1-2t^2+t^4\right]}{(1+t^2)^2}
\]
\[
=
\frac{16(1+2t^2+t^4)}{(1+t^2)^2}
\]
\[
=
\frac{16(1+t^2)^2}{(1+t^2)^2}
\]
\[
=16
\]
Thus,
\[
x^2+y^2=16
\]
\[
x^2+y^2=4^2
\]
Step 5: Final conclusion.
Hence, the point lies on a circle of radius \(4\).
\[
\boxed{\text{Circle of radius }4}
\]