We show that spin-density separation in a Bose gas is not restricted to 1D but also occurs in higher dimensions. The ratio (alpha) of the intraspecies atom-atom interaction strength to the interspecies interaction strength strongly influences the dynamics of spin-density separation and the elementary excitations. The density wave is phononlike for all values of alpha. For alpha < 1, the spin wave is also phononlike. The spin waves have a quadratic dispersion in the alpha=1 coupling regime, while in the phase separated regime (alpha > 1) the spin waves are found to be damped. The dynamical structure factor reveals two distinct peaks corresponding to the density and spin waves for alpha < or =1. For alpha > 1 there is only one dynamical structure factor peak corresponding to the density wave.