For installing the open source vmware tools, you need first to install the EPEL repository with:
yum --enablerepo=extras install epel-release
Then to install the actual open source vmware tools, it is indeed:
yum install open-vm-tools
This time wont give you any error.
Additionally, if installing VMWare tools (open or not), take care to make user your are using VMXnet NIC interfaces and disk access paravirtualization. Whilst normally the vmxnet use can nowadays be pretty automatic, you need to do extra parametrisation on the ESXi/ESX side to take profit of disk controller paravirtualization (e.g. selecting a paravirtualized disk controller).
Additional notes:
The open-vm-tools is nowadays the recommended way to install Vmware add-ons due to the complexity that VMWare own official tools bring.
The official VMware add-ons need to be compiled and installed as modules, and additional development tools, the kernel headers source, and dkms need to be installed, adding size and complexity to server, especially in a VM environment.
As such, it is much more lightweight and conducing to the UNIX philosophy of installing the minimum software needed in a server to install the open-vm-tools.
Over time, the support for VMWare is also getting in the linux kernel, and the open-vm-tools over time is ending up not being not much more than wrappers/scripts to the kernel modules.