Two teenagers were stabbed several times during a Christmas dance party in Victoria on Sunday.

The teenage boys were enjoying a friend's party at a farm in Packenham South when a group of 15 gatecrashes entered the shed, armed with knives and allegedly yelling 'Aussie scum'.

Joel Sarlo, 18, was stabbed twice during the frenzied attack, with one puncture narrowly missing his lungs.

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Joel Sarlo, 18, was stabbed twice during a frenzied attack at a dance party in Victoria, with one puncture narrowly missing his lungs (pictured)

Mr Sarlo had come to the defense of his mate, 18-year-old Matt Drommel, who was being beaten by the knife-wielding thugs.

Mr Drommel, who was also stabbed, told 7 News the gatecrashers tried to kidnap him by leading him out to a car with a knife pressed to his throat.

'They tried to stab me twice in the stomach but missed, but they stabbed me there,' Mr Drommel said, pointing to a wound on his arm.

The 18-year-old was able to get away from the attackers, crawling into a bathroom and hiding until they left.

Mr Sarlo, 18, had come to the defense of his friend when he was set upon by the knife-wielding thugs and stabbed

Matt Drommel, also 18, was being beaten by the thugs before being stabbed and nearly kidnapped

'I thought I was actually going to die...if it wasn't for my mates I probably would be dead,' he said.

Friends tried to stop the bleeding by using towels as the party goers were left terrified following the attack.

Mr Sarlo was ambushed by six of the men after he tried to help his friend, resulting in his stab wounds.

Friends tried to stop the bleeding by using towels as the party goers were left terrified following the attack

Police arrested a 17-year-old boy, believed to be from Iraq, as he was leaving the property on Sunday.

He was released on bail, drawing criticisms from the victims.

'You can go around stabbing someone with a knife and get out on bail the next day - it's a joke,' Mr Drommel said.