If the continued fraction converged to $\pi$, the value of the odd convergent
$$
3 +\cfrac1{
5 +\cfrac1{
7}} = \frac{115}{36} = 3.19444\ldots
$$
would be strictly smaller than $\pi$. But the convergent is already too big. The actual value of the continued fraction must exceed $\frac{115}{36}$; it lies somewhere between
$\frac{115}{36} \approx 3.1944$ and $\frac{1051}{329} \approx 3.1945$.
Another way to see this is:
Simple continued fraction representations of irrational numbers are unique
The continued fraction representation of $\pi$ begins $3+\frac1{7+\cdots}$, not $3+\frac1{5+\cdots}$.
Therefore, this is not the continued fraction representation of $\pi$.
If the continued fraction converged to $\pi$, the value of the odd convergent $$ 3 +\cfrac1{ 5 +\cfrac1{ 7}} = \frac{115}{36} = 3.19444\ldots $$
would be strictly smaller than $\pi$. But the convergent is already too big. The actual value of the continued fraction must exceed $\frac{115}{36}$; it lies somewhere between $\frac{115}{36} \approx 3.1944$ and $\frac{1051}{329} \approx 3.1945$.
Another way to see this is: