It is a small project, so there is no need to be formal.
You don't have to include tests with contributions, or even run the tests on your changes, but doing so will of course make things faster and easier.
To run the tests, you have a couple of options.
Option 1: tox. Install tox, locate yourself in the main project
directory, and run tox. All dependencies will be installed in
virtual environments, and the code will be tested against Python 2.6
and 2.7, if they are installed on your system.
Option 2: Install nose and mock. Locate yourself in the main
project directory, and run nosetests.
The documentation is hosted at readthedocs, and will be built automatically when merged into the main branch.
If you make changes to the documentation and would like to preview them
locally, you will need to build the documentation.
Install sphinx, locate yourself in the docs directory and
run make html. Then open the _build/index.html page.