You could make it less repetitive, but looks good apart from that.

#!perl
use strict;
use warnings;
use v5.10.0;
use Test::More tests => "5";
use FindBin qw($Bin);

BEGIN {
  use_ok( 'Fancy::Open', qw(fancy_open) )
    or die "Fancy::Open is not available\n";
}

diag( "Testing Fancy::Open $Fancy::Open::VERSION, Perl $], $^X" );

my $file = "$Bin/test-open.txt";

my @wanted = qw(
  red orange yellow spring green teal cyan azure
  blue violet magenta pink white black gray
);

is_deeply(
  [ Fancy::Open::fancy_open($file) ],
  [ @wanted ],
  "testing a plain array"
);

is_deeply(
  [ Fancy::Open::fancy_open($file, { 'before' => 'solid ' }) ],
  [ map "solid $_", @wanted ],
  "testing an array with before option"
);

is_deeply(
  [ Fancy::Open::fancy_open($file, { 'after' => ' bead' }) ],
  [ map "$_ bead", @wanted ],
  "testing an array with after option"
);

is_deeply(
  [ Fancy::Open::fancy_open($file, { 'before' => 'solid ', 'after' => 
+' bead' }) ],
  [ map "solid $_ bead", @wanted ],
  "testing an array with before and after options"
);

done_testing();
[download]

You might also want to test it on a file that ends with a "\n" and a file that doesn't end with a "\n", and see if the behaviour differs between them. Having checked your module, I don't think it will, but it might be useful to have a test for it, so you don't accidentally change that in the future without realizing it.