The teenager was robbed on Castle Street in Dudley at around 8:30pm on May 2.
Released images of the teenagers show them both wearing black jackets with one wearing a mask.
A spokesperson for Dudley Police said: "Do you recognise these teenagers?
"We want to speak to them after a 16-year-old was robbed on Castle Street, Dudley at around 8.30pm on May 2.
"If you recognise them or have any information, please contact us via Live Chat on our website quoting 20/431385/22."