Step 1: Analyze the given condition.
We are given that:
\[
\frac{\cos A}{a} = \frac{\cos B}{b} = \frac{\cos C}{c}
\]
This implies a symmetry in the triangle. In any triangle, this condition can only hold if the angles are all equal and the sides are proportional.
Step 2: Conclusion.
Since the angles are equal, the triangle is an equilateral triangle. Thus, the correct answer is \( \boxed{\text{an equilateral triangle}} \).