delete_option( 'general_settings' ); ÂÂ
delete_option( 'color_settings' );
But it's quite important to do that when plugin is deactivated,
all you can do is call the above deletion functions under plugin
deactivation hook -
register_deactivation_hook(__FILE__, 'plugin_deactivation');
function plugin_deactivation(){ ÂÂ
if ( ! current_user_can( 'activate_plugins' ) ) return;  ÂÂ
delete_option( 'general_settings' );   //.............more
}