Initially it was thought the boys, likely aged 10 or 11, might have been from Nanaimo, B.C.
But they have now been identified as students who lived in Castlegar, said Greg Luterbach, the Kootenay-Columbia school district's superintendent.
The boys and their ages cannot be identified because of their youth, Luterbach said. The school has not identified the teacher who the students were allegedly trying to hurt.
The school district turned the video over to the local RCMP, who say no charges will be laid.
Luterbach said the school district will do an internal risk assessment and handle any punishment, while the RCMP have contacted the boys and their families.
The two boys acted out various scenarios, including using toy guns, to kill a teacher.
The video was posted to YouTube, but when it was highlighted on a Facebook page belonging to an American radio station, the original posting quickly disappeared.
The B.C. Teachers' Federation has notified Vancouver police about the video, said president Jim Iker in a written statement on Tuesday.
"This video is deeply disturbing on many levels. The violent words and actions expressed by the young boys are in sharp contrast to the safe learning environment we all want for students and teachers in our schools."