Two Geelong players were arrested at gunpoint after their prank on an AFL teammate went horribly wrong.

Police cautioned Josh Caddy and Billie Smedts at the Geelong suburb of Kardinia Park on Wednesday afternoon after they were seen wearing balaclavas and trying to break into a local house.

Teammate Jackson Thurlow had moved into a new home and the pair wanted to scare him.

But they went to the wrong address and a neighbour reported them to police.

The pair were found in their car soon after and police with guns drawn arrested them.

“We thought it would be a bit of laugh to scare Jackson Thurlow in his new house,” the Geelong Advertiser quoted Caddy as saying.

“Me and Billie are both disappointed that we scared people in the community.

“The club has dealt with it. The police have dealt with it. We are both sorry to that lady.”

It is understood Smedts and Caddy received cautions and no further action will be taken.