Driver Herschel Reynolds, 20, and passenger Isaiah Young, 19, were taken into custody in front of a home near 51st and Hoover streets in South L.A. around 3:30 p.m., sheriff's deputies said.
Reynolds is being held in lieu of $50,000 bail, while Young is being held in lieu of $80,000 bail due to an outstanding warrant.
PHOTOS: Wild police chase in Los Angeles
The incident began around 1:24 p.m. when authorities responded to a report of a home burglary in the 12300 block of Charlwood Street in Cerritos. A neighbor described the car the suspects were traveling in, and a helicopter unit found the dark blue Mustang convertible on the westbound 91 Freeway heading toward the northbound 710 Freeway.
California Highway Patrol officers took over and engaged in a high-speed chase until the two suspects made their way into L.A. The suspects, both clad in blue, began driving erratically through South L.A., traveling onto the northbound 110 and 101 freeways.
At one point, Reynolds stopped on rain-slicked Hollywood Boulevard to skid the car in circular "donuts" before taking off again. They were also seen driving on the highway shoulder and driving the wrong way on other L.A. streets.
Authorities later deployed a spike strip and appeared to cause damage to the convertible's right front tire.
After merging onto the congested 101 Freeway, the men were momentarily blocked by a TMZ tour bus. Young then stood up and threw an object at the bus, and the driver maneuvered around it shortly after.
Once in South L.A., the pair stopped in front of a home at 51st and Hoover streets. The car, damaged and with a flat tire, remained in the middle of the street as Herschel exited the convertible and casually sat on the hood.
Reynolds and Young then began greeting, exchanging high-fives, taking selfies and hugging friends who stepped out of the home and appeared to be handing them items before police arrived to detain them. A crowd quickly gathered at the scene as Reynolds, Young, and a third person were taken into custody.
Authorities said Reynolds and Young were booked into the Cerritos Station on suspicion of burglary, among other charges.
Anyone with more information on the incident was asked to call the LASD Cerritos Station at (562) 860-0044. Those wishing to remain anonymous could call Crime Stoppers at (800) 222-8477.