You also need a recursive solution that creates all combinations directly without the need of filtering duplicates:

use strict;
use warnings;

my $input  = 'ABC---';

sub insert {
  my( $sofar, $chars, $dashes ) = @_;
  print "$sofar\n" and return unless @$chars or @$dashes;
  insert( $sofar . $$chars[0],  [ @$chars[ 1..@$chars-1] ],   [ @$dash
+es ] ) if @$chars;
  insert( $sofar . $$dashes[0], [ @$chars ], [ @$dashes[ 1..@$dashes-1
+ ] ] ) if @$dashes;
}

insert( '', [ $input =~ /[^-]/g ], [ $input =~ /-/g ] );
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UPDATE: operating on strings rather than arrays is even simpler:

use strict;
use warnings;

my $input  = 'ABC---';

sub insert {
  my( $sofar, $chars, $dashes ) = @_;
  print "$sofar\n" and return unless $chars or $dashes;
  insert( $sofar . substr( $chars, 0, 1),  substr( $chars, 1 ), $dashe
+s ) if $chars;
  insert( $sofar . substr( $dashes, 0, 1), $chars, substr( $dashes, 1)
+  ) if $dashes;
}

insert( '', $1, $2 ) if $input =~ /^([^-]+)(-+)$/;
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