Officers are investigating reports of two teenage boys being assaulted by a boy in Southam
The incident is believed to have happened on Friday April 5.
Sergeant Samantha De Cogan of Warwickshire Police said: "We have received reports of the incident and are aware of video footage that has been shared on social media.
"An investigation is underway and I would like to ask people not to share the video or speculate on those involved, as this could harm our investigation and any subsequent legal proceedings.
"I would also like to add that threatening and abusive comments on social media will not be tolerated and will be dealt with accordingly where required.
"Officers are supporting the victims at this time and working with the school as enquiries continue."
Anyone with information is asked to call police on 101, quoting incident number 240 of April 5.