Elliott – who became the second-youngest player to feature in a competitive fixture for the Reds last month – subsequently apologised but has been handed a ban as well as a £350 fine and must take part in an education course.
“Harvey Elliott has been suspended from playing in all domestic club football for a period of 14 days, running up to and including 24 October 2019, after admitting a breach of FA Rule E3 in relation to a video posted on social media and providing a public apology,” read an FA statement.
“Language and/or behaviour in the video breached FA Rule E3(1), as it was abusive and/or insulting, and constituted an ‘Aggravated Breach’, which is defined in FA Rule E3(2), as it included reference to a disability.
“The Liverpool FC winger must also complete a face-to-face education course and pay a £350 fine.”
Elliott filmed the video while he watched the Champions League final between Tottenham and Liverpool in June.
He later issued an apology on social media, saying he was “truly sorry”.
Elliott joined Liverpool from Fulham on July 28 and made his debut in their pre-season friendly victory over Napoli.
He then became the second-youngest player, after Jerome Sinclair, to play in a competitive game for Liverpool when he featured in the Carabao Cup win over MK Dons on September 25 at the age of 16 years and 174 days.