Officials say the girls have been removed from Paterson's School 27 while police investigate the allegations.
No one was injured.
School district spokeswoman Terry Corallo issued a statement saying officials learned of the video on Wednesday. Corallo says the video has been removed from YouTube and the students were taken out of school.
Paterson Police Capt. Heriberto Rodriguez tells The Record newspaper (http://bit.ly/ZMbbgd ) the case is under investigation. He declined to answer questions.