The shaggy beasts were being unloaded from a truck in Pontresina, in the eastern canton of Graubünden, when they managed to give the farmer the slip.
Graubünden police said one cow had been recaptured while another was still on the loose.
One young animal had seized its chance to enjoy unaccustomed freedom, the police report said.
But instead of heading for the meadow the cow had made for the village where there were several sightings.
A villager had reported seeing a cow charging a hotel front with its horns.
However, police said no one had been injured and there had been no damage to property.
Farmers and police spent several hours chasing the animal on Saturday before finally sedating and capturing it.
The other cow headed off in the direction of the Bernina pass, where it is still at large.