Firefighter Klaus Litzlbauer says the two were fished out of the Braunau river on Tuesday after jumping or possibly falling from the Innbrücke.
They had to hold onto the bridge supports to avoid being swept downstream. Litzlbauer said the men were unharmed but were suffering from hypothermia, and were lucky that the water level was presently low - otherwise their chances of surviving the strong-flowing current would have been slim.
They were with a group of hundreds of refugees who were waiting to cross the border into Germany. Police said the two were shouting "more freedom" and were cheered on by a crowd on the bridge.
The two men were taken to hospital and will be questioned by interpreters.